Saudi Arabia: Saudi Arabia’s mortgage financing portfolio has exceeded SR900 billion ($240 billion) so far in 2025, reflecting the Kingdom’s accelerating real estate transformation under Vision 2030, the minister of municipalities and housing said.

Speaking during a ministerial session at the third Qatar Real Estate Forum in Doha, where Saudi Arabia served as the guest of honor, Majid Al-Hogail reviewed the sector’s progress driven by regulatory reforms, digital transformation, and new investment models. 

The surge in mortgage lending is a direct result of ongoing reforms and institutional strengthening under Vision 2030, which targets a 70 percent homeownership rate for citizens. 

In a release, the ministry stated: “Al-Hogail stressed that real estate financing has become the cornerstone for the success and sustainability of real estate development, noting that its volume in the Kingdom has increased from about SR200 billion to more than SR900 billion in 2025.” 

He added that it now accounts for 27 percent of Saudi banks’ portfolios, supported by the Saudi Real Estate Refinance Co., which has issued sukuk on the London Stock Exchange to deepen capital market integration. 

The minister noted that the government has built a comprehensive real estate ecosystem that integrates landowners, developers, service providers, and facility managers into a more efficient and collaborative system. 

According to the statement, Al-Hogail attributed this growth to a shift in the sector, driven by the Kingdom’s Vision 2030. He added that the challenge in the past was to provide housing. “Today, the challenge is to provide happiness for those living within these communities,” the statement added. 

Highlighting the institutional framework behind the boom, Al-Hogail detailed the pivotal role of the National Housing Co., established in 2016 as the primary executive arm for urban development. 

Alongside the regulatory “Wafi” program for off-plan sales, these initiatives have enabled over 100 national developers to execute massive projects to global standards. 

The minister also confirmed a new agreement with Qatar’s Diyar Co. to expand its presence in the Saudi market, underscoring a strategic push for Gulf partnerships. 

Al-Hogail also outlined the “Saudi Architecture” initiative, launched by the Crown Prince, which marks a transition from physical construction to building a national identity. The initiative has formulated 19 distinct architectural identities reflecting the cultural diversity of the Kingdom’s regions. 

Furthermore, Saudi cities are making significant strides in digital transformation, with six now ranked among the top 100 smart cities globally, according to the IMD Index. 

This robust digital infrastructure has enabled the complete digitization of real estate transactions, transforming property into a liquid investment and savings asset.