Riyadh opens applications for up to 40,000 residential plots annually under Real Estate Balance Program

According to the Saudi Gazette, the Royal Commission for Riyadh City (RCRC) has announced the opening of applications for the second edition of the Real Estate Balance Program. Starting Sunday, August 16, residents can apply for residential plots through the official Real Estate Balance Platform, with the application window remaining open until September 15.

The initiative is designed to address housing demand by providing between 10,000 and 40,000 developed residential plots annually over the next five years. The program sets a price ceiling of SR1,500 per square meter, aiming to stabilize the local real estate market and increase homeownership rates among eligible beneficiaries in the capital.

Following the application period, the RCRC will verify eligibility requirements and release a list of qualified applicants. The allocation process will involve a lottery system to identify specific plots, followed by off-plan sale procedures to finalize ownership. This program is part of broader efforts by the Saudi government to enhance urban development and provide affordable housing solutions for the growing population of Riyadh.