The Royal Commission for Riyadh City launched the Tawazoun platform, offering citizens residential plots at a capped price of SAR 1.5k per sqm, the authority said in a statement on Thursday. The initiative aims to supply 10k to 40k plots annually to balance the city's real estate market. Applications are open until Thursday, 23 October.

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Eligibility criteria: Eligible applicants must be Saudi citizens (married or over 25), Riyadh residents for at least three years, and first-time property owners. The land cannot be sold for 10 years and must be developed within that period to avoid repossession.

Reining in prices: Crown Prince Mohammed Bin Salman acknowledged in his annualaddress last week that residential property prices in some areas have risen to “unacceptable levels.” The government is working on policies to rebalance the sector, aiming to lower costs, encourage investment, and provide suitable housing options for citizens, he said.

We knew this was coming: A royal directive issued back in June lifted development curbs on 81 sq km of land in northern Riyadh, outlining the plan to release the plots through a digital platform.

DATA POINT- Riyadh’s residential market saw steep price hikes in in 2Q 2025, with villas prices climbing 15.1% y-o-y and apartment prices increasing 13.3% y-o-y, according to a JLL report. The city's housing supply now stands at roughly 2.2 mn units, with 5.6k delivered in the first half of 2025 and nearly 19k more expected by year-end.

The government has rolled out sweeping reforms to stimulate the real estate market — opening property ownership to non-Saudis, permitting foreign investment in Makkah and Madinah real estate firms, as well as amending the White Land Tax law.

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