Alwaleed Philanthropies, chaired by Prince Alwaleed Bin Talal Bin Abdulaziz Alsaud, has announced the delivery of the fifth installment of homes and cars to 249 beneficiaries in Saudi Arabia.
The grant is part of the foundation's Housing & Cars Grants Project, where 10,000 housing units and 10,000 cars are to be distributed among Saudi citizens over the next 10 years.
Alwaleed Philanthropies said it seeks to improve the living standards of Saudi citizens through various community development projects.
The Housing and Cars Grants Project, which is one of its largest initiatives and targets eligible Saudi citizens, aims to provide extra disposable income for these families.
"We at Alwaleed Philanthropies are conscious of the burden rent can have on many Saudi families," said Alanoud Al Mohammadi, executive manager of Saudi initiatives at Alwaleed Philanthropies.
"Too often, we see women who are widowed or divorced having to support families of 6 to 9 people on a meagre income. We remain committed to improving these families' living standards."
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