About the Initiative
Launched at the beginning of 2021, this initiative aligns with the Kingdom’s Vision 2030 and supports the strategic objective of providing suitable housing ownership opportunities for Saudi families.
The initiative aims to elevate professional standards in the real estate market by qualifying and empowering Saudi nationals to assume key roles in the sector. It also focuses on developing national leadership in real estate through the creation of executive programs. Furthermore, it promotes the concept of social responsibility in the real estate sector by offering training programs tailored for those interested in working within the non-profit domain of the housing ecosystem. The initiative is also guided by plans to establish quality partnerships that support highly professional training programs, in addition to launching specialized and advanced tracks for qualifying individuals working in the real estate sector. Another key objective is to reinforce the principles of financial and business sustainability within the domain of real estate qualification and training.
Contribution of the Initiative to Achieving the Strategic Goal
This initiative plays a vital role in aligning sector visions and outcomes by enabling the informational, knowledge-based, and innovation-driven infrastructure needed in the housing sector. It also supports the development of mechanisms to monitor and evaluate the real estate market, empowering decision-makers to meet the Vision 2030 goal of increasing homeownership among Saudi families. The initiative facilitates the provision of sector-specific data essential to implementing the second phase of the Housing Program strategy, thereby contributing to progress in the following key indicators:
1. The percentage of Saudi families owning residential units
2. The strength and resilience of the real estate sector’s foundations in the Kingdom
Expected Impact
-
Social Impact: The initiative aims to generate more credible employment opportunities for individuals aspiring to work in the real estate sector. It also seeks to increase the sector’s added value through the potential rise in wages for professionals in this field.
-
Economic Impact: The initiative supports the long-term economic contribution of the Housing Program by enhancing workforce capabilities in the real estate sector. This contributes to greater overall productivity in the sector and helps achieve higher GDP per worker.