Riyadh Region Mayor directs establishing real estate department

Prince Faisal bin Ayyaf, Mayor of Riyadh Region, directed the establishment of the general department for real estate development, Saudi Press Agency reported.

The move aims to achieve Riyadh’s ambitions in the real estate sector, which is one of the key sectors in the Kingdom and a major driver of development in Riyadh.  

Riyadh's population will likely double by 2030, which will boost demand for residential units by nearly two million, along with the currently available units. This increase necessitates the establishment of a regulatory entity for the real estate market in Riyadh.