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Saudi Arabia has officially launched an enhanced support program aimed at first-time homeowners, marking a significant step toward its Vision 2030 housing targets. The move comes from the Cabinet’s decision to extend the Facilitated Mortgage Program until 2028
Key Features of the Program:
Reduced from 10% to just 5% for qualifying first-time homebuyers.
Up to 95% mortgage financing on homes valued at SAR 800,000 (~USD 213,300) or less
Applies to both off-plan and completed housing units, offering flexible terms based on financial status
According to Saeed Al Zahrani of the Real Estate Development Fund, the initiative “simplifies the homeownership process by easing the burden of down payments for housing support beneficiaries”
Strategic Goals & Impact
This initiative aligns with the Housing Program, a pillar of Vision 2030, aiming to increase Saudi homeownership to 70% by 2030. To date, over 638,000 citizens have benefitted from this support.
By easing upfront costs and expanding access, the program is expected to:
Expert Insight
Real estate analysts highlight that stronger financing options and reduced entry barriers will boost transactions in mid-range residential sectors. This alignment of demand and policy could accelerate development across key urban zones.
Why It Matters
Saudi Arabia’s enhanced support program is more than a financial incentive—it’s a strategic economic lever. By partnering policy and financing, the government accelerates its national housing goals and fosters sustainable real estate growth, reinforcing investor and citizen confidence in the property market.
With up to 95% financing and only 5% down, Saudi Arabia is making homeownership more attainable than ever. The program’s extension through 2028 reflects a long-term mission to empower citizens and diversify the economy under Vision 2030.
