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Saudi Ministry of Housing to provide 1.5 mln housing units in 5 years

20 Feb 2017

(MENAFN) Saudi Minister of Housing Majed Bin Abdullah Al Huqail said that the ministry is preparing to provide 1.5 million housing units in the next five years.

During a meeting with Jeddah Chamber of Commerce and Industry, he said that banks are not playing the role required to providing loans for houses as their contribution is only 200,000 housing units out of the existing 6 million housing units.

He also highlighted the role of the private sector program that the ministry has, which he said was to encourage partnership with the private sector.

Additionally, he noted that the main goal for the ministry is to increase housing ownership from 47% to 52% under the kingdom’s vision for 2030.

MENAFN2002201700450000ID1095255902

MENAFN2002201700450000ID1095255902

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