Surge in Saudi Employment in Real Estate: Localization Efforts Drive Growth

Surge in Saudi Employment in Real Estate: Localization Efforts Drive Growth

The real estate sector in Saudi Arabia has witnessed a remarkable surge in local employment, with over 26,000 Saudi nationals currently engaged in the industry. This substantial increase, more than doubling the workforce from 12,000 in July 2021, is a direct outcome of the government’s strategic focus on industry localization. The announcement of this initiative came from the Minister of Human Resources and Social Development, Eng. Ahmad Al Rajhi, marking a significant 116% growth.

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Addressing the audience at the Real Estate Future Forum in Riyadh, Al Rajhi underscored the broader expansion of the private sector labor force, projected to reach an unprecedented 2.3 million workers by 2023, compared to 1.7 million in 2019. Notably, among these workers, 361,000 are first-time job applicants.

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Al Rajhi attributed the surge in employment to the ministry’s initiatives aimed at promoting real estate employment. Key measures include launching the Waad national training campaign and establishing 12 sectoral councils focused on skill development, particularly in the construction and real estate sectors. The ambitious goal of this campaign, set to conclude by the end of 2025, is to provide training opportunities to 1.155 million Saudis in collaboration with the private sector.

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Highlighting the government’s comprehensive support and aid efforts, Al Rajhi detailed the 123 programs in place. These initiatives primarily cater to holders of citizen accounts, individuals with disabilities, and social security recipients. The financial commitment to these crucial programs exceeded SR86 billion in 2023.

Al Rajhi also shed light on the “housing and empowerment” program, designed to assist 1,000 families with social security registrations. The program aims to facilitate the transition of these families from dependency to self-sufficiency.

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Within a mere ten months, the National Social Responsibility Platform has seen the participation of over 1,100 businesses, contributing over SR1 billion. Notably, corporate support has been instrumental in the housing sector, where 21 initiatives totaling more than SR677 million are being implemented to aid the most economically challenged segments, as directed by the ministry.

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This surge in Saudi employment in the real estate sector, driven by strategic localization efforts, signifies a positive trajectory for the industry and the broader economy. The government’s multifaceted initiatives are not only boosting employment but also fostering social and economic empowerment across various segments of the population.

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