Governor of Riyadh Hands Over First Batch of Land Plots to Real Estate Balance Program Beneficiaries
His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Province, handed over today at Qasr Al-Hukm the first batch of land plots allocated to first-year beneficiaries of the Real Estate Balance Program in the neighborhoods of Al-Nakheel, Al-Malqa, and Al-Qirawan, in the presence of His Royal Highness Prince Mohammed bin Abdulrahman bin Abdulaziz, Deputy Governor of Riyadh Province.
The ceremony, attended by His Excellency Eng. Ibrahim bin Mohammed Al-Sultan, Chief Executive Officer of the Royal Commission for Riyadh City (RCRC), followed the beneficiaries’ completion of the procedures required to take ownership of their plots. Handovers to the remaining beneficiaries will continue in phases as master plans and plots become ready and regulatory procedures are completed.
The ceremony opened with a recitation from the Holy Quran. In his speech, His Royal Highness Prince Faisal bin Bandar bin Abdulaziz, Governor of Riyadh Province, said that under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud, and the directives of His Royal Highness Prince Mohammed bin Salman, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Royal Commission for Riyadh City, the real estate balance framework receives the close attention of the wise leadership, reflecting its commitment to supporting housing stability, improving quality of life, and achieving balance across sectors.
His Royal Highness the Governor noted that the follow-up and support extended by His Royal Highness the Crown Prince to every initiative that advances prosperity and improves quality of life in Riyadh reflect the priority the leadership gives to its citizens.
He added that the measures taken in this regard will have a significant impact on comprehensive and sustainable development in Riyadh, on achieving real estate balance, and on regulating relationships within the sector.
“Today, we mark an important milestone with the handover of the first batch of title deeds to the program’s beneficiaries,” His Royal Highness said. “This step reflects the place the citizen holds with the wise leadership and its continued efforts to support comprehensive development, raise the quality of life, and strengthen the foundations of stability for citizens, within a vision that puts people at the heart of development.”
HRH Prince Faisal bin Bandar also commended the efforts of the RCRC and all entities involved in delivering the program, praising their joint work in translating its objectives into results on the ground.
His Royal Highness concluded by praying to the Almighty to protect the Custodian of the Two Holy Mosques and His Royal Highness the Crown Prince, and to preserve the nation’s security, prosperity, and stability.
During the ceremony, His Royal Highness and the attendees watched a video presentation on the key milestones of the Real Estate Balance Program. He then handed the title deeds to the beneficiaries, and commemorative photographs were taken to mark the occasion.
The Royal Commission for Riyadh City (RCRC) confirmed that work on the first-year master plans is proceeding according to the approved implementation phases. The plans are being prepared around urban and planning concepts that prioritize quality of life, integrated services, green spaces, accessibility, and a range of housing needs, supported by design guidelines and urban and architectural standards that improve the residential environment and shape integrated, model neighborhoods.
Providing citizens with planned and developed residential land at capped prices is one of the main measures to achieve real estate balance in Riyadh, launched under the directives of His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, and Chairman of the Board of Directors of the Royal Commission for Riyadh City. The program aims to provide between 10,000 and 40,000 residential land plots a year over five years at a price not exceeding SAR 1,500 per square meter. During the first year, 10,024 residential plots covering a total area of more than 6.3 million square meters were allocated across several locations in Riyadh.
The start of the handover marks a new stage in the program, as beneficiaries take actual ownership of developed land at a capped price. It adds an organized supply of residential land that narrows the gap between supply and demand and limits land price increases, supporting the stability of the real estate market over the medium and long term. In development terms, the program introduces a new urban model in Riyadh built around planned neighborhoods, with a positive effect on the city’s structure and on the quality of life of its residents.
Since the launch of the program, the beneficiary journey has followed an integrated journey – from eligibility verification and the electronic draw, through land allocation and the completion of regulatory procedures, to the issuance of title deeds – a sequence that reflects effective coordination between government entities in turning the program’s objectives into tangible outcomes for beneficiaries.
