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16,000 units will be added
Saudi Arabia is planning to pump nearly 4.8 billion Saudi riyals ($1.28 billion) into new housing projects in 2025 within an ongoing drive to boost housing supply for citizens.
The new projects in various parts of the Gulf kingdom include nearly 16,000 houses, apartments and villas, according to the Municipal Affairs and Housing Ministry.
In a statement published byte Saudi Al-Watan newspaper on Thursday, the Ministry said the projects are part of the Kingdom’s efforts to achieve the targets of its Vision 2030 for economic diversification and social stability.
Saudi officials have said the 2030 housing strategy targets an increase in citizens’ house ownership to more than 70 percent. |
