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Riyadh, Saudi Arabia
Abdulrahman Al-Taweel, Undersecretary of the Ministry of Municipalities and Housing for the stimulus of the housing supply and real estate development in Saudi Arabia, confirmed that more than 27 million square meters of land in the city of Riyadh have entered into development since the implementation of white land fees procedures last January, pointing to the increase in building permits by 37%, in light of the increasing trend of real estate developers towards the implementation of new projects to enhance the housing supply and achieve balance in the real estate market.
Al-Taweel explained that the regulatory procedures and facilities provided to developers are beginning to bear fruit, with a noticeable increase in license applications in various Saudi cities, not only in the capital Riyadh, reflecting the growth of real estate activity and the desire to convert undeveloped land into residential and commercial projects.
Itam Center represents a unified window to serve real estate developers, as it facilitates procedures and follow-up projects in various stages
Itam Center completes more than 2900 applications
He added that the Itam Center represents a unified window to serve real estate developers, as it facilitates procedures and follow-up projects in various stages, starting from land planning, the adoption of plans and the issuance of licenses, to the completion of development and operation work.
He pointed out that the center aims to address one of the most prominent challenges facing developers, represented in the multiplicity of authorities concerned with approvals and licenses, including the Ministry of Municipalities, Housing, secretariats, development authorities, service companies and other ministries, stressing that the unification of communication channels contributes to accelerating procedures and overcoming obstacles that may delay the implementation of projects.
Al-Taweel revealed that the center has completed more than 2900 applications since the launch of the program, while the total areas of the approved plans exceeded 800 million square meters, pointing out that more than 770 challenges related to procedures and coordination between the various parties have been received, and the success of the center in addressing most of them.
He pointed out that Itam is working in cooperation with the Ministry of Municipalities and Housing and the White Land Fee Program to facilitate the procedures of land development, in addition to studying applications for granting deadlines to developers and helping them to overcome obstacles, in order to support accelerating the pace of development and increasing the real estate supply.
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