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FINANCIAL NEWS
Saudi government grants USD1.3B housing loans
04 Jul 2013
(MENAFN) 10,000 Saudis will benefit USD 1.3 billion worth of loans which are bound to use in sake of funding housing and building properties all over the kingdom as the government granted the aforementioned sum of money, Saudi press agency reported.
Details remained disclosed and it is reported that step will contradict a previous decree that required housing loans to be cut off basic salaries.
These loans are the third round of housing loans issued this year as Saudi attempts to halt its housing crisis amid a rapid rise in the country’s population .In April, King Abdullah approved of plots of land and housing loans so many citizens who did not already own a home.
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