image description
image description
Tell A Friend

FinancialNews


  • 05-09-12

    Saudi Arabia starts initial work for 500,000 housing plan

    (MENAFN) A new report released by CB Richard Ellis Bahrain (CBRE Bahrain) said that Saudi Arabia has started breaking ground for the first batch of a massive low-income housing plan announced early this year, Saudi Gazette reported. Saudi Arabia plans to spend USD67 billion on building half a million housing units to meet the lower-income population needs. A total of 32 square kilometers of housing units in the Kingdom is currently being masterplanned, according to a research note released by CBRE Bahrain. Government policy through 2012 remains focused on infrastructure and social programs, the report added. The Kingdom needs to solve a chronic housing shortage for a population that's quadrupled in size in four decades to 28.4 million in 2011. The government needs to build 1.25 million new homes by 2014, according to its development plan.

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved