Saudi Real Estate Transactions Top $320 Billion Amid Vision 2030 Reforms
RIYADH, 23 July (Voice of Malaysia): Saudi Arabia’s real estate market has recorded transactions worth SR1.2 trillion ($319.8 billion) between July 2023 and July 2025, reflecting the Kingdom’s ongoing transformation of the property sector under its Vision 2030 initiative.
The figures were announced by the General Real Estate Authority following the second edition of the Real Estate Brokerage Forum 2025, held at the Riyadh International Convention and Exhibition Center, according to the Saudi Press Agency (SPA).
Driven by reforms outlined in Vision 2030, Saudi Arabia is aiming to raise its homeownership rate to 70 percent by the end of the decade, up from 63.7 percent in 2023. The ambitious plan focuses on expanding mortgage access, diversifying financing channels, and increasing banking participation to fuel growth in the real estate sector.
Tayseer Al-Mufarrej, General Director of Strategic Communication and official spokesperson for the General Real Estate Authority, emphasized the sector’s rapid evolution in his keynote address at the forum. He revealed that over 8 million real estate transactions had been registered under the new system, alongside the licensing of more than 86,000 brokers and approval of 75 digital platforms showcasing over 685,000 authorized listings.
“These changes represent a structural transformation of the sector, turning real estate brokerage into a licensed and regulated profession,” said Al-Mufarrej. He credited the Real Estate Brokerage Law, enacted in 2022, for laying the foundation for transparency, accountability, and consumer protection.
In its first year of implementation, the new system led to a 17 percent increase in real estate activity, with transactions reaching SR605 billion, and spurred the licensing of tens of thousands of both individual and corporate brokers.
The forum’s first panel, “Legislative Updates and Empowerment Opportunities in the Real Estate Brokerage System,” highlighted the creation of a regulatory framework that enables sector-wide growth and investment. Experts described the transformation as the most significant regulatory shift in the Kingdom’s real estate history, designed to ensure long-term sustainability and trust in the market.
A second panel, titled “From Value Creation to Sustainable Sales,” focused on the Kingdom’s accelerating urban development and praised new planning standards that are enhancing residential areas and improving the overall quality of life for citizens.
The Real Estate Brokerage Forum 2025, organized by the General Real Estate Authority, is part of broader national efforts to modernize and professionalize the real estate sector, supporting economic diversification and aligning with Saudi Arabia’s comprehensive national real estate strategy.
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