Mohammed Al Dighelby, the official spokesperson of Saudi Housing Ministry, said that the ministry is committed to delivering a batch of residential units in many areas around the kingdom.
He added saying that the ministry aims at bolstering the partnership with the private and public sectors, in addition to, increasing ownership percentage to 52%. The statements came on the margin of handing out new units to 92 Saudi citizens in Al Khobar.
It’s worth mentioning that the Saudi Housing Minister “Majid Al Huqail” has announced that Saudis house ownership rate will hike from 47% to 52% in the coming 4 years. He cleared that the hike will be attributed to the rising number of youth looking for a residence, therefore, the ministry is looking for establishing more than 1 million residential units.
Al Huqail said that the ministry intends setting a number of residential products besides the aforementioned 100,000 units which will be delivered starting from the current month.
Moreover, the ministry started this month delivering 900 villas in Hafr Al Baten residential project which is located east Saudi Arabia.