Saudi Arabia ‘well prepared’ for phase II of housing program: minister

Minister of Housing Majid Al-Hogail affirmed that the Kingdom is “well prepared” for the implementation of second phase of the housing program - a component of Vision 2030 - which will begin in early 2021 and continue for 5 years.
 

Al-Hogail indicated that phase II targets the continuous development and sustainability of the sector, the Saudi Press Agency reported. 
 

The program is the major driver for the sector and has contributed to several achievements that serve all stakeholders. It also gives momentum for more than 120 sectors in the Saudi market, he added on the sidelines of the Euromoney conference, held in coordination with the Real Estate Development Fund (REDF). 
 

Al-Hogail also said that the COVID-19 virus has had a limited impact on the housing sector, explaining that one of the key priorities currently is to help private-sector partners weather the fallout of the pandemic.