“Saudi Arabia is embarking on a massive home-building journey with the goal that 70% of Saudis will own their own homes by 2030. This is made possible by the Saudi Government’s incredible support for the real estate sector,” Grover told the audience of industry leaders and top government officials from Saudi Arabia and the UK.
With the backing of Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), ROSHN plans to spend tens of billions of pounds to build integrated communities that will house over 2.2
According to a 2022 PwC report, “Transforming the Housing Sector in Saudi Arabia,” the government’s policies and initiatives, including the activation of various financial products, are driving the sector’s growth. Recent reforms include plans to allow foreigners to own property, simplifying the property registration process, and strengthening the mortgage system to make homeownership possible for new generations of Saudis.
