Saudi Crown Prince Mohammed bin Salman recently announced the lifting of restrictions on 81.48 square kilometers of land in northern Riyadh, as part of a series of measures taken by Saudi Arabia to address the soaring housing prices in the capital. The newly opened area includes a core plot of 17 square kilometers east of King Khalid Road, which, combined with the previously released land, is equivalent to 11 New York Central Parks and will be prioritized for affordable housing development.

According to the new policy, Saudi citizens can apply for residential land with a unit price not exceeding 1500 riyals (approximately 3000 yuan/square meter), but must promise not to resell or idle it for 10 years. The Royal Commission of Riyadh will allocate 10000 to 40000 pieces of land annually, with the goal of increasing the homeownership rate to 70% by 2030. Analysis suggests that this move can not only curb speculation, but also rely on infrastructure investment under the "2030 Vision" to build a smart new city and industrial corridor in the north.

The land unlocking this time is an important measure for Saudi Arabia to balance the real estate market. In 2024, residential rent in Riyadh increased by 23% year-on-year, and this policy is expected to stabilize housing prices by 30% in the next three years by expanding the supply side. In conjunction with ongoing projects such as King Salman International Airport and Metro Line 6, the Riyadh urban framework will expand 50 kilometers to the north, forming a new economic growth pole. This article is from the official website www.seetao.com of Jiandao. Reproduction without permission is strictly prohibited, otherwise it will be prosecuted. Please indicate Jiandao website+original link when reprinting. "- Jiandao website strategy column editor/Wu Juan