RIYADH — Riyadh will begin accepting applications on Sunday, Aug. 16, for the second edition of the Real Estate Balance Program, which aims to provide up to 40,000 residential plots annually, with applications remaining open until Sept. 15. Overseen by the Royal Commission for Riyadh City (RCRC), the program aims to provide between 10,000 and 40,000 developed and planned residential plots annually over the next five years, at prices not exceeding SR1,500 per square meter. According to the RCRC’s official website, applications can be submitted through the Real Estate Balance Platform, after which a list of applicants who meet the eligibility requirements will be announced. A lottery will then be conducted and plots identified, followed by allocation and off-plan sale procedures before the ownership process is completed. The Real Estate Balance Platform aims to help balance the real estate market and increase homeownership among eligible beneficiaries in Riyadh. It also seeks to ensure fair distribution and maintain a balance between supply and demand in the city's residential real estate market. The program is being implemented under the directive of Crown Prince Mohammed bin Salman and a royal order approving the provision of residential land to citizens in Riyadh.
