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Postponement of furnishing the housing units to increase production

Saudi Arabia - May 28, 2015
The Ministry of Housing

The Ministry of Housing in Saudi Arabia announced the postponement of furnishing the residential units to a future stage, as an attempt to exploit the money to increase the production of the residential products, either through land or loan or housing.

Abdullah Ahmari, chairman of the real estate valuation of the Chamber of Commerce and Industry of Jeddah, stated that the decision came after an increase in demand in an attempt by the ministry to reduce the waiting lists of people who deserve housing products.

Ahmari also explained that the step of furnishing units may now be a waste of money as the tastes vary between different people according to their habits and traditions.

It is worth mentioning that the rise in property prices in the Kingdom, is what prompted the government to intervene to solve the local housing crisis and take care not to repeat it in the future.

 

Source: arabianbusiness.com

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