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FinancialNews


  • 13-12-22

    Administration initiatives target to surge home ownership in Saudi Arabia

    (MENAFN) Current initiatives applied by the administration, such as access to investments and guidelines standardizations, are improving the residential market and developing access for Saudi households, as mentioned in a report from PwC Middle East.

    Saudi Arabia’s housing request reached an amount of 99,600 houses during last year and is estimated to surge by over 50 percent to amount to 153,000 houses within the start of next decade.

    5 years ago, over 1.6 million Saudi nationals were on waiting lists for administration residential programs, driving the improvement of the “Housing Program in 2018” with the aim of surging access for Saudi households to suitable housing.

    This initiative confirmed Saudi Arabia’s promise to talking about obstacles such as population expansion, quick urbanization, an insufficient provision of affordable residential units, in addition to an unregulated self-build market.

    The report recognizes some of the vital actions that had an optimistic effect on the nation’s transformation, such as access to investments.

    MENAFN13122022000045014228ID1105302197

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