Saudi real estate transactions hit $320bn

Arab News

3 days ago

RIYADH: Saudi Arabia's real estate market recorded transactions worth around SR1.2 trillion ($319.8 billion) between July 2023 and July 2025, under the implementation of a new property initiative, according to a recent announcement.
The figure was revealed by the General Real Estate Authority after the second edition of the Real Estate Brokerage Forum 2025, held at the Riyadh International Convention and Exhibition Center, the Saudi Press Agency reported.
Saudi Arabia's real estate sector is transforming under Vision 2030, which aims to raise homeownership to 70 percent by 2030, up from about 63.7 percent in 2023. The plan focuses on expanding mortgage lending, diversifying financing, and doubling mortgage activity through wider bank participation.
Tayseer Al-Mufarrej, general director of strategic communication and official spokesperson for the authority, highlighted the system's impact during his keynote address, saying that it has led to over 8 million real estate transactions and the licensing of more than 86,000 brokers, alongside the approval of 75 digital platforms that host over 685,000 authorized listings.
The shift is driven by Vision 2030 and the Real Estate Brokerage Law, introduced in 2022, which aims to professionalize property transactions through standardized contracts, broker licensing, and stricter oversight to boost transparency and protect consumers.
'Al-Mufarrej noted that the system had brought about a fundamental transformation in the structure of the sector by turning brokerage into a licensed profession governed by regulations and defined responsibilities and obligations,' SPA said.
Within its first year, transactions rose by 17 percent, totaling SR605 billion in deals and prompting the licensing of tens of thousands of individual and corporate brokers, as well as digital platforms.
In the forum's first panel discussion, titled Legislative Updates and Empowerment Opportunities in the Real Estate Brokerage System, speakers said that the sector now operates within an enabling regulatory framework that supports growth.
They described the current environment as the most significant regulatory transformation in the sector's history, aimed at boosting reliability and sustainability.
A second panel discussion, titled 'From Value Creation to Sustainable Sales,' addressed the ongoing urban development in the Kingdom.
Participants praised the governance measures and planning standards that have improved residential neighborhoods and elevated the quality of life.
The forum, organized by the authority, is part of broader efforts to enhance the real estate business environment, supporting economic growth and aligning with the comprehensive national real estate strategy.