RCRC launches ‘Tawazon’ platform for Riyadh land purchase applications

The Royal Commission for Riyadh City (RCRC) launched today, Sept. 11, Tawazon real estate platform, designed to receive applications from Saudi nationals seeking to purchase residential land plots in Riyadh.

The application window will remain open until Oct. 23, with the land eligibility to be declared on Nov. 9.

This came in accordance with Crown Prince Mohammed bin Salman's directive to achieve equilibrium in the Riyadh real estate market, the commission stated in a post on its official account on “X” platform.

According to RCRC, married citizens or those over the age of 25 can apply to the Tawazon platform, as long as the applicant has no prior real estate ownership and has resided in Riyadh for at least three years.

Potential beneficiaries should also meet some other conditions, including not selling, mortgaging, or otherwise disposing of the land within 10 years, except for mortgaging to finance the construction of that land.

If the land remained unused within this period, it will be revoked, and the amount paid for its purchase will be refunded to the respective applicant.

Additionally, the commission emphasized that registering on the platform does not guarantee acceptance and that the timing of registration has no bearing on eligibility priority. It indicated that the Tawazon platform is the sole digital channel for submitting applications and is not represented by any external entity or intermediary.

According to data available with Argaam, the Crown Prince directed in March the implementation of several measures to balance the real estate market in Riyadh amid higher land prices and rentals.

Accordingly, RCRC was mandated to allocate planned and developed residential lands for citizens, ranging from 10,000 to 40,000 plots annually over the next five years, based on market supply and demand. Prices should not exceed SAR 1,500 per square meter.