Riyadh to open applications for residential land program on August 16
text_fields
Riyadh will begin accepting applications on Sunday, August 16, for the second edition of the Real Estate Balance Programme, which aims to provide up to 40,000 residential plots each year.
Applications will remain open until September 15 through the Real Estate Balance Platform.
The program is overseen by the Royal Commission for Riyadh City and is designed to provide between 10,000 and 40,000 developed and planned residential plots annually over the next five years.
Prices will not exceed SR1,500 per square metre, according to details published on the commission’s official website.
After applications are submitted, a list of those who meet the eligibility requirements will be announced.
A lottery will then be held to identify plots for eligible applicants. This will be followed by allocation, off-plan sale procedures and completion of ownership steps.
The platform aims to support balance in Riyadh’s real estate market and increase homeownership among eligible citizens.
It also seeks to ensure fair distribution of residential land and help maintain balance between supply and demand in the capital’s housing market.
The program is being implemented under the directive of Crown Prince Mohammed bin Salman and a royal order approving the provision of residential land to citizens in Riyadh.