Saudi Arabia has launched new projects to build nearly 150,000 houses in various areas within a strategy to ensure house ownership to at least two thirds of the Gulf Kingdom’s people, a newspaper reported on Sunday.
The 115 new projects are executed by private local and foreign developers within a partnership programme announced by the world’s largest oil exporter a few years ago.
The new units comprise houses, villas and apartments and are located in seven key cities, including the capital Riyadh, the Western Red Sea port of Jeddah, Medina in Western Saudi Arabia, the Eastern port of Dammam and the Southern region, according to the Arabic language daily Almadina, which cited a report by the Housing Ministry.
“The new units will be distributed to Saudi families entitled to benefit from the government housing programme…about 180,000 families are targeted by this programme in 2022,” the paper said, adding that 225,000 families benefited in 2021.
Saudi Arabia has said it aims to boost house ownership by its citizens to at least 70 percent at the end of its economic diversification scheme known as Vision 2030.
(Writing by Nadim Kawach; Editing by Anoop Menon)