Red Sea Affordable Housing Division

The Red Sea Affordable Housing Division was established to serve the large global demand for affordable housing.

Housing, especially middle and low-income housing, is in low supply. Rapid population growth coupled with increased urbanization have put increasing pressure on housing stock and resulted in the housing shortages. With nearly 40 to 60% of the population in emerging countries under the age of thirty years, household formation is growing rapidly, further increasing the demand for housing units. The global demand for housing is estimated to be over 44 million units.

In the Kingdom of Saudi Arabia, the housing shortfall is growing rapidly and is expected to grow further. To address this deficit, the government established a Real Estate Development Fund, which developed various financing schemes to increase the homeownership rate. It also consolidated government land under the Ministry of Housing to accelerate the delivery of the 500,000 units announced through a royal decree. 

Red Sea offers a range of affordable housing solutions and services to the private and public sectors in the form of integrated communities or standalone housing neighborhoods. It is characterized by a sense of place, community, and identity at affordable prices. 

Red Sea affordable housing units are offered to communities as single homes, apartment buildings, or a combination of both. Structures are built using high quality, cost efficient, and rapid building methods, contributing to the affordability and quick delivery of a sustainable community. The housing types and sizes fit the budgets and social needs of the targeted market segment.