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Youth Housing Development Project
The project aims to develop small and diverse housing units that suit the needs of young people, that are affordable and strategically located near universities, job centers, and public transportation.
The units will be well-equipped and provide all basic services such as internet, security, and maintenance.
The project will contribute to providing flexible housing solutions for young people starting their careers or education, helping to solve the housing issue in major cities.
The project will also provide employment opportunities in the fields of construction, management, and operation.
Opportunity Content
Rationale for choosing the project
Project justification:
Increasing population growth and high percentage of youth: Saudi Arabia is experiencing continuous population growth, with the population growth rate exceeding 2.5% annually. Young people between the ages of 20 and 34 make up a large proportion of the total population, making them a key target segment for the housing market. This group is increasingly looking for suitable housing that suits their financial and living needs.
Demand for residential independence: Young Saudis tend to become independent from their families at a relatively young age, increasing the demand for small and medium-sized housing units tailored to their needs, whether it is for study, work, or starting an independent family life.
Government housing initiatives and programs: The Saudi government is working to provide youth-friendly financing programs such as Sakani, which facilitates home ownership. The Ministry of Housing and the Real Estate Development Fund also offer soft loans that support young people in obtaining affordable housing units.
Shift towards big cities: Demand for housing units for youth in major cities such as Riyadh, Jeddah, and the Eastern Province is increasing due to the availability of jobs, higher education, and public services, making these cities an attractive destination for young people looking for housing.
Modern lifestyle: Young people today prefer to live in modern units with modern services such as high-speed internet, communal spaces, and sports and recreational facilities. This requires the provision of integrated residential complexes that cater to these needs and offer a comfortable and modern lifestyle.
Demand analysis
Target age group: Young people between the ages of 20 and 34 make up more than 50% of the population, reflecting the urgent need to provide housing for this age group.
Growing demand in major cities: Major cities such as Riyadh, Jeddah and Dammam are attracting a large proportion of young people due to job and education opportunities, leading to a high demand for small and medium-sized housing units.
Changes in living patterns: Young people prefer to live in small independent units instead of living with family, especially with the availability of easy financing options.
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