Employment of Saudis in real estate sector surges to 26000 after localization push – Saudi Gazette

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Saudi Gazette report

RIYADH — The Saudi real estate sector has seen a substantial increase in local employment, with over 26,000 citizens now working in the industry, a significant leap from just 12,000 in July 2021. This 116% surge follows the government’s decision to focus on localizing the sector, as announced by Eng. Ahmad Al Rajhi, Minister of Human Resources and Social Development.

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Addressing the Real Estate Future Forum in Riyadh, Al Rajhi highlighted the overall growth in the private sector workforce, with numbers rising from 1.7 million in 2019 to a record 2.3 million in 2023. Notably, 361,000 of these workers are entering the job market for the first time.

Al Rajhi credited the jump to the ministry’s efforts in fostering employment in real estate. This includes establishing 12 sectoral councils for skill development, notably in construction and real estate, and initiating the Waad national training campaign. This campaign, in collaboration with the private sector, aims to offer 1.155 million training opportunities to Saudis by the end of 2025.

The minister also mentioned the government’s extensive support and aid initiatives, numbering 123 programs. The largest among these cater to social security beneficiaries, individuals with disabilities, and citizen’s account holders. In 2023, funding for these key programs exceeded SR86 billion.

Additionally, Al Rajhi emphasized the “housing and empowerment” initiative, targeting 1,000 social security-registered families. The program seeks to transition these families from dependency to self-sufficiency.

Over 1,100 companies have joined the National Social Responsibility Platform, contributing more than SR1 billion in 10 months. In particular, the housing sector benefits from significant corporate support, with 21 initiatives worth over SR677 million, aiding the ministry’s most underprivileged segments.

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