RIYADH — The Royal Commission for Riyadh City on Thursday launched the "Real Estate Balance" platform to receive applications from citizens seeking residential land in the capital. Applications will remain open until Oct. 23, 2025, with eligibility results to be announced on Nov. 9. The initiative follows directives from Crown Prince and Prime Minister Mohammed bin Salman to stabilize the housing market by providing between 10,000 and 40,000 planned and developed plots annually over the next five years, at prices not exceeding SR1,500 per square meter. The commission said applications are open to married citizens or those aged 25 and above, provided they do not own property elsewhere and have resided in Riyadh for at least three years. Beneficiaries are prohibited from selling, renting, or transferring the land for 10 years, except for mortgaging it to finance construction. If not developed within that period, the land will be repossessed and compensated at its original price. CEO of the Royal Commission for Riyadh City, Ibrahim Al-Sultan, confirmed that the residential plots offered through the platform will be within existing neighborhoods across Riyadh to enhance supply and achieve balance in the housing market. He emphasized that priority will not be determined by order of registration and that applying through the digital platform does not guarantee acceptance. The "Real Estate Balance" portal is the only official channel for applications, with no external representatives authorized. The process will include registration, eligibility verification, public lottery, land allocation, and sale procedures, ending with ownership and payment finalization. The platform is integrated with relevant government agencies to ensure reliability and efficiency, contributing to housing market stability and improving quality of life in Riyadh.
