Saudi Arabia develops 3 major cities: Al-Hogail

Majed Al-Hogail, Minister of Municipal and Rural Affairs and Housing, said the ministry is currently working on redeveloping three major cities in the Kingdom, in cooperation with more than 80 local private sector partners.

The ministry also aims to expand these partnerships to include international investors, including globally experienced US companies.

During his participation in the Saudi-US Investment Forum 2025, Al-Hogail extended an open invitation to US investors to enter the Saudi real estate sector, whether in development, facilities management, smart city construction, or the repurposing of land within urban areas.

He stressed that the Kingdom is not merely seeking financing, but strategic partners who can help design sustainable solutions for the future of Saudi cities.

Al-Hogail pointed out that the homeownership rate rose from 47% before the launch of Vision 2030 to over 60% currently. He added that the ministry aspires to raise this figure to 70% by 2030, noting that such transformation would not have been possible without genuine partnerships with the private sector and empowering citizens to acquire their first homes.

Further, the minister indicated that the Kingdom is witnessing an unprecedented urban transformation thanks to Vision 2030, adding that the ministry is leading 11,000 development projects through more than 300 municipalities across various regions. These projects encompass housing, infrastructure, and quality-of-life improvements, in partnership with US entities.