Saudi plans to deliver one million housing units over next five years

Saudi Arabia has a waiting list for 1.5 million housing units over the next five years and plans to deliver one million units over the same period, Housing Minister Majed al-Hogail said on Wednesday.

“If we could adopt the technology faster that means the productivity will increase,” he told reporters on the sidelines of the Euromoney conference.

On Tuesday, Deputy Crown Prince Mohammed bin Salman said authorities would announce a programme to address the kingdom’s shortage of private housing in the third quarter of this year, aiming to arrange the construction of over a million housing units through soft loans or the Saudi Real Estate Development Fund.

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