Saudi Arabia has approved the construction of nearly 300,000 houses as part of an ongoing programme to allow most citizens to own property, a Saudi official has said.
Nearly 80,000-90,000 units would be completed in 2024 and the rest would be ready by the end of 2025, said Abdul Rahman Al-Taweel, Undersecretary of the Municipal Affairs and Housing Ministry.
“Work on these projects is already under way…around 50,000 houses have been constructed and are ready to be distributed,” he told Almadina newspaper.
Taweel said Saudi Arabia, the world’s largest oil exporter, is investing at least 200 billion riyals ($53 billion) in housing projects until the end of 2025.
(Writing by Nadim Kawach; Editing by Anoop Menon)
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