Saudi Arabia Announces a Surge in Real Estate Employment Opportunities
Saudi Arabia is witnessing a surge in the number of citizens entering the real estate industry, thanks to localisation initiatives.
Training programs and increased opportunities have led to a more than 100% rise in the number of Saudis employed in the real estate sector within just a couple of years.
Eng. Ahmad bin Sulaiman Al Rajhi, the Minister of Human Resources and Social Development, highlighted the ministry's collaborative efforts with other government entities and the private sector to create job opportunities for citizens. The initiative resulted in a significant increase, with the number of Saudis employed in the private sector rising from 1.7 million in 2019 to a record 2.3 million in 2023.
During the Real Estate Future Forum, Al Rajhi mentioned that out of the new recruits, 361,000 had no prior work experience. This achievement follows the decision to localize real estate professions and activities, which was made in July 2021. Before this decision, only 12,000 Saudis were working in the real estate sector. Two years later, the number has surged to over 26,000 citizens, marking a remarkable 116% increase.
Al Rajhi emphasized the ministry's contribution to creating more job opportunities in the real estate sector. This includes the establishment of 12 sectoral councils, such as the construction and real estate activities council, and the launch of the national training campaign (Waad) in collaboration with the private sector. The campaign pledged to provide 1,155,000 training opportunities for Saudis by the end of 2025.
The minister also highlighted the government's support programs, with 123 initiatives, including those for social security beneficiaries, persons with disabilities, and the citizen’s account. In 2023, support for these programs exceeded SR86 billion ($23 billion). Additionally, the ministry is working on a "housing and empowerment" initiative aimed at encouraging 1,000 families registered with social security to participate in empowerment programs, transforming them from families in need to productive households.
Companies are actively contributing to social responsibility through the National Social Responsibility Platform, with over 1,100 registered companies contributing more than SR1 billion ($267 million) in just 10 months. The housing sector receives significant support through 21 initiatives worth more than SR677 million ($181 million), benefiting the most underprivileged segments aided by the ministry.