According to the latest data, Saudi Arabia's housing demand is expected to increase by over 50% by 2030, reaching 153,000 units, and approximately 1.2 million new housing units will be required to meet the target of reaching 4.96 million housing units in stock by 2030. This indicates the significant housing construction challenges and opportunities facing the Kingdom of Saudi Arabia.

To achieve this ambitious goal, the Saudi government has implemented a series of significant initiatives. Firstly, through various government-supported financing measures aimed directly at addressing homebuying challenges, barriers stemming from the high mortgage loan rates environment are being tackled, providing sustainable financing solutions for families unable to afford homes. For instance, the Saudi Real Estate Refinance Company (SRC) plans to refinance 20% of the country's residential mortgage market by 2025, providing crucial support for the healthy development of the housing market.

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In addition to financial support, the Saudi Central Bank also plays a crucial role in lowering the minimum down payment requirements for home purchases and increasing the number of banks offering housing loans, providing homebuyers with more convenient financing channels. Furthermore, Saudi Arabia encourages private sector participation, especially in developing affordable housing, to promote diversification and healthy development of the housing market.

In addition to improving financing channels, the Saudi government has introduced a series of governance reforms and regulatory measures to standardize the real estate market, stimulate investment, and protect consumer rights. The introduction of the Real Estate General Authority aims to regulate the industry and stabilize the real estate rental and buyer markets through initiatives like "Ejar," enhancing market transparency and stability.

Furthermore, the government has launched several projects and programs such as the "Mulak Plan," "Shrakat," and "Sakani" to strengthen partnerships between the government and the private sector, providing affordable housing solutions for citizens. These initiatives reinforce partnerships between the government and the private sector, offering solutions and housing products at affordable prices to meet citizen needs, and enabling Saudi homebuyers to apply for their first homes online in a digital manner.