By Staff writer
Demand for affordable housing reaching crucial stage, says Jeddah official
Saudi Arabia has kick-started plans to build 500,000 affordable homes throughout the kingdom, with Jeddah leading demand for new housing projects.
Jeddah municipality undersecretary Ibrahim Ketabkhane said demand for affordable housing in the country was reaching a crucial stage, and that programmes were already in play to address that demand.
Speaking on the sidelines of the 10th International Real Estate, Financing and Housing Exhibition 2012, Ketabkhane said, “This real estate sector is one that is growing in importance in the Kingdom.
There is no doubt that the real estate sector makes Jeddah a prominent economic city in the Kingdom, as Jeddah needs 100,000 housing units each year just to meet demand. In 2020 Jeddah will need about a million units.”
“Jeddah witnesses many real estate development plans because it is a city that attracts investors, workers, tourists as well as pilgrims. Such a large number of visitors also led to an increased demand for real estate. The amount of real estate investment in the city is estimated at more than SAR2bn (US$533m).”
In my view, Jeddah affordable homes should be built not in conventional techniques (like concrete and re-bar) but in light steel frame with superior insulation properties. Then we can say we are tackling the problem.