RCRC closes Real Estate Balance Program applications; results due Sept. 30

Logo of Royal Commission for Riyadh City (RCRC)

The Royal Commission for Riyadh City (RCRC) announced the closure of applications for the second year of the Real Estate Balance Program (Tawazoun).

Applications opened on Aug. 16, and remained open until the end of Tuesday, Sept. 15, through the Tawazoun platform.

According to the Saudi Press Agency (SPA), the commission will begin verifying applicants’ eligibility through electronic integration and coordination with relevant authorities.

Eligibility results will be announced on the platform on Sept. 30, while objections to the results will be accepted starting Oct. 1.

The program requires applicants to be Saudi nationals, married or aged 25 or older, have never previously owned a property, and have resided in Riyadh for at least three years.

Subsequent stages include an electronic draw for eligible applicants, followed by completion of off-plan sale procedures.

The program aims to provide between 10,000 and 40,000 residential land plots annually at prices not exceeding SAR 1,500 per square meter, with the aim of increasing the supply of residential land and narrowing the gap between supply and demand.