property
Riyadh First-Time Buyers Choose Between New Developments and Ready Homes
Riyadh first-time buyers weigh the risks and rewards of new developments against ready-to-move homes under current grant rules.
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First-time buyers in Riyadh face a clear choice between off-the-plan apartments priced from SAR 650,000 and established units starting at SAR 1.1 million in the same districts.
The comparison matters now because the Sakani program expanded its down-payment support to SAR 150,000 for eligible Saudis from 1 July 2026, while construction costs for new projects rose 8 percent in the second quarter.
Off-the-Plan in Growing Districts
Developers market units along King Abdullah Road and near the Riyadh Metro station at Al Malaz with completion dates set for late 2028. Buyers lock in prices today but must wait through potential delays tied to material shortages reported at sites in the Diplomatic Quarter.
Payment plans require 10 percent upfront followed by staged draws, which fits the updated Sakani grant timeline that releases funds only after the buyer signs the sales contract with the Ministry of Housing.
Established Homes in Mature Areas
Ready properties in Al Olaya and along Tahlia Street allow immediate occupancy and standard mortgage approval within four weeks. These units carry higher entry prices but avoid the uncertainty of handover dates that have slipped by six months on three projects tracked by the Real Estate General Authority this year.
Recent data from the authority shows average established apartment prices in central Riyadh reached SAR 1.4 million in May 2026, up SAR 70,000 from the prior quarter. Off-plan listings in the same zones average SAR 820,000, though service fees and fit-out costs can add SAR 120,000 after handover.
Prospective buyers should visit the Sakani portal this week to confirm grant eligibility, then compare specific listings on King Abdullah Road against current stock in Al Malaz before rates adjust again in August.
This article is general information only and is not personal financial or investment advice. Consider your own circumstances and seek licensed professional advice before making financial decisions.