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FINANCIAL NEWS
Saudi to build USD66 b housing units
24 Dec 2013
(MENAFN) Saudi Arabia plans to invest USD66.6 billion in 500,000 new low-cost housing units across the Kingdom, according to Arab News.
Finance Minister Ibrahim Al-Assaf said: “This project has nothing to do with annual budgets. Every year we sign new contracts for constructing housing units and payments for them are made from the SR250 billion allocated for the purpose. This project will not be affected by any negative developments.”
The finance minister will be able to take loans or transfer from reserves as per requirements, especially to pay public debts.
More News
08 Apr 2026
BBK awards over BD 1 Million to 273 winners in the February Al Hayrat Grand Prizes draw
01 Mar 2026
BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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