Saudi home ownership rate to be boosted, says Hugail

16/05/2016 Argaam

The Saudi housing ministry will raise the rate of home ownership among citizens to 52 percent from 47 percent over the next four years to bridge the housing gap, Aljazeera newspaper reported citing housing minister, Majid Hugail on the sidelines of the Saudi International Conference for Real Estate.

 

The ministry is planning to build more than one million housing units to meet the increasing demand for homes.

 

Earlier this month, the ministry said it was ready to deliver 100,000 units— including land, apartments and villas—to low-income Saudi families all over the kingdom.

 

The ministry added that the undertaking was in line with Saudi Vision 2030 which aims to increase the rate of home ownership among Saudi citizens.

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