Saudi Arabia is seeing an increasing number of citizens join the real estate industry following localisation schemes.
Training and opportunities have seen the number of Saudis working in real estate increase by more than 100 per cent in a couple of years.
Human Resources and Social Development Minister Eng. Ahmad bin Sulaiman Al Rajhi said that the ministry’s collaboration with other government institutions and the private sector helped create job opportunities for citizens, bringing the number of Saudis working in the private sector from 1.7m in 2019 to a record 2.3m in 2023.
Saudi real estate jobs
He added that 361,000 of the new recruits had never previously worked.
The announcement came during the Real Estate Future Forum.
Al Rajhi said: “Before July 2021, we had not localised the real estate professions and activities, and the number of Saudis working in the sector was only 12,000.
“Two years after taking the decision to localize, we have over 26,000 citizens working in the real estate sector, marking a 116 per cent increase.”
According to Al Rajhi, the ministry contributed to creating more employment opportunities for Saudis in the real estate sector through the establishment of 12 sectoral councils to develop skills, including the construction and real estate activities council, and launched the national training campaign (Waad) in partnership with the private sector, which pledged to provide 1,155,000 training opportunities for Saudis until the end of 2025.
The minister noted that the government has 123 support and aid programs, the largest of which are for social security beneficiaries, persons with disabilities, and citizen’s account.
Support for these three programs reached over SR86bn ($23bn) in 2023, he said, stressing that the ministry is currently working on a “housing and empowerment” initiative that aims to encourage 1,000 families registered with the social security to enrol in empowerment programs that will help transform them from families in need to productive households.
He added that more than 1,100 companies registered on the National Social Responsibility Platform; their contributions exceeded SR1bn ($267m) in 10 months since the launch of the platform.
The housing sector is the most supported by companies through 21 initiatives worth more than SR677m ($181m), which go to support the most underprivileged segments aided by the ministry.
Follow us on
