KSA to build 200,000 affordable housing units
Construction is part of a wider social welfare scheme
The Ministry of Housing in Saudi Arabia plans to implement a program that will result in the construction of 200,000 new housing units, according to newspaper Arab News.
King Abdullah, Custodian of the Two Holy Mosques, has ordered the construction of 500,000 housing units across the Kingdom as part of social welfare schemes. Construction is scheduled to be competed at the end of this year. These housing units are intended to meet the needs of the lower income sector throughout the Kingdom.
The ministry said that 17,600 units are currently being implemented. There is adequate land for the program. They have bought in brought a foreign expert who will determine the mechanism to help distribute the housing units to individuals.
The key criteria for receiving a housing unit stipulates that a beneficiary does not own a house, according to a ministry spokesman. The foreign expert will finalise the distribution mechanism by the end of the year, Saudi citizens will be given a choice between loans provided by the Real Estate Development Fund (REDF), the housing unit or any other program approved by the Ministry
