Employment of Saudis in real estate sector soars to 26,000 following government’s localization drive

The Saudi real estate sector has witnessed a remarkable surge in domestic employment, surpassing 26,000 citizens currently engaged in the industry.

This significant leap from the 12,000 recorded in July 2021 marks a 116% increase, attributed to the government’s concerted efforts to localize the sector. Eng. Ahmad Al Rajhi, Minister of Human Resources and Social Development, unveiled this development during the Real Estate Future Forum in Riyadh.

Speaking at the forum, Al Rajhi underscored the broader growth in the private sector workforce, which escalated from 1.7 million in 2019 to an unprecedented 2.3 million in 2023. Notably, this surge includes 361,000 individuals entering the job market for the first time.

The minister credited this growth to the ministry’s initiatives, such as establishing 12 sectoral councils for skill development, particularly in construction and real estate, and launching the Waad national training campaign. In collaboration with the private sector, this campaign aims to provide 1.155 million training opportunities to Saudis by the close of 2025.

Al Rajhi also highlighted the government’s substantial support initiatives, totaling 123 programs. Among these, major allocations were directed towards social security beneficiaries, individuals with disabilities, and citizen’s account holders, exceeding SR86 billion in funding in 2023. Furthermore, the minister emphasized the “housing and empowerment” initiative, targeting 1,000 social security-registered families to facilitate their transition from dependency to self-sufficiency.

The National Social Responsibility Platform has witnessed the active participation of over 1,100 companies, contributing more than SR1 billion in just 10 months. Particularly noteworthy is the corporate support directed towards the housing sector, with 21 initiatives valued at over SR677 million, significantly aiding the ministry’s efforts in supporting the most underprivileged segments of society.