Saudi plans low-income homes
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 02 September 2007
Saudi Arabia is set to build 35,000 low-income housing units over the next two years, according to the country’s deputy minister of economy and planning.
Ahmed ibn Ibrahim Al-Hakami told Arab News more than one million homes were needed. The new units are to be built by the Social Affairs Ministry and charities.
According to Al-Hakami, King Abdullah has allocated SR10 billion from budget surplus to build 66,000 low-cost homes over four years.
The King has donated five million square metres of land in Madinah worth SR 2 billion for a project by the King Abdulla Charitable Housing Foundation to build 13,000 units to house 50,000 people.
Social affairs minister Abdul Mohsen Al-Akkas said houses would be distributed free to those most in need, with maintenance carried out by the ministry.
READERS' COMMENTS
MORE FROM ARABIANBUSINESS.COM
TOP IN MIDDLE EAST REAL ESTATE
TOP MIDDLE EAST BUSINESS STORIES
ALSO IN MIDDLE EAST REAL ESTATE
LATEST MIDDLE EAST BUSINESS NEWS
- Sport: World No 1 Nadal knocked out in Doha
- Construction & Industry: Aldar joint venture firm announces 200 job losses
- Politics & Economics: UN Security Council calls for Gaza ceasefire
- Politics & Economics: UAE marches, TV fundraiser plan for Gaza people
- Construction & Industry: Three firms in frame for $6.8bn airport contract
RELATED STORIES
Ministry of Economy and Planning
- Saudi inflation climbs to 10.6%
3 Aug '08 | News - Saudi budget hits record $77bn
26 Sep '07 | News - Saudi council urges gov't to tackle inflation
10 Sep '07 | News




