Saudi Housing Ministry seeks to provide 300,000 residential units

08/03/2022 Argaam Special

Abdullah Albudair, Vice Minister of Municipal, Rural Affairs and Housing

Abdullah Albudair, Vice Minister of Municipal, Rural Affairs and Housing, said the ministry aims to provide more than 300,000 residential units across Saudi Arabia, of which 147,000 units will be in Riyadh.

 

The ministry is currently working under the umbrella of the Housing Program whose first and second phases aim to boost the real estate supply, Albudair told Argaam on the sidelines of Restatex Riyadh Exhibition 2022.

 

He indicated that the initiatives launched recently by the ministry aim to add a large number of real estate developers in Saudi Arabia.

 

“These initiatives provide the appropriate environment for contractors to transform into real estate developers. They also help the small-sized developers to expand their business,” Albudair noted, adding that the initiatives go in line with the Kingdom's vision in raising the efficiency of the development sector. 

 

He concluded that fees were imposed on all idle lands in the Kingdom.

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