SAUDI ARABIA

Saudi Arabia's homeownership rate surged to 66.24% as the Kingdom accelerates sustainable urban development.

The milestone is part of Saudi Arabia's ambitious Vision 2030 plan, which targets 70% homeownership and comprehensive urban development.

Minister of Municipalities and Housing Majed Al-Hogail speaking during Saudi Arabia's address at the UN General Assembly High-Level Meeting on the Urban Agenda in New York.

From New York, Minister of Municipalities and Housing Majed Al-Hogail reported that Saudi Arabia's homeownership rate grew from 47% in 2016 to 66.24% by the end of 2025, nearing the Vision 2030 target of 70%.

Speaking during Saudi Arabia's address at the UN General Assembly High-Level Meeting on the Urban Agenda in New York, Al-Hogail said the Kingdom has established an advanced model for sustainable urban development, moving from planning and policymaking to implementation and measurable impact.

He said Saudi Arabia had submitted its updated 2026 national report to UN-Habitat, documenting the urban transformation achieved in recent years and highlighting the expansion of implementation and tangible results.

Al-Hogail said more than 25% of Saudi families benefited from housing support services between 2018 and 2025.

Other indicators show urban progress: per capita public space expanded from 5.2 to 6.9 square meters, while the Bahja program contributed over 12 million square meters of community spaces.

The Riyadh Metro recorded more than 100 million passengers during its first nine months of operation, while urban bus services carried more than 96.8 million passengers in 2025, reflecting improvements in urban mobility and quality of life.

Al-Hogail said Saudi Arabia's urban transformation has also extended to social development. Women's labor force participation increased from 22.8% to 36%, while the employment rate of people with disabilities doubled.

The number of nonprofit organizations exceeded 7,213, representing growth of more than 341% and reflecting increased community participation in the Kingdom's development.

Saudi Arabia is also strengthening urban governance through greater financial autonomy for municipalities, integration of urban data and the incorporation of climate risk assessments into urban planning.

The Kingdom continues to implement the Saudi Green Initiative and the National Renewable Energy Program to enhance the sustainability and resilience of its cities, Al-Hogail said.

Partnerships and investment have played a central role in the transformation, with Saudi Arabia signing more than 56 public-private partnership agreements supporting infrastructure and municipal services.

The Kingdom has also signed a strategic cooperation agreement with UN-Habitat and the United Nations Development Programme for 2024-2027.

Al-Hogail noted that Saudi Arabia issued $9.1 billion in green bonds and sustainable sukuk in 2024, while the Public Investment Fund's green finance framework carries commitments exceeding $10 billion by 2026.

He reaffirmed Saudi Arabia's commitment to supporting the objectives of the New Urban Agenda, strengthening international cooperation and expanding access to sustainable financing to build more inclusive and sustainable cities and enhance quality of life for future generations.

Saudi Arabia's presentation at the UN highlighted not only housing gains but also improvements in public spaces, transport, and social indicators. The 66.24% homeownership rate, along with rising women's labor participation and nonprofit growth, signals a multifaceted transformation aligned with Vision 2030. Observers will watch whether the Kingdom can reach the 70% target by 2030 amid ongoing economic reforms.