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Mon 4 Apr 2016 01:58 PM

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Residential developments planned for Riyadh Metro stations

Projects are part of Saudi housing ministry's plans to diversify residential property in Gulf kingdom

Residential developments planned for Riyadh Metro stations
Homes are likely to be constructed around Riyadh Metro stations.

Saudi's housing ministry will utilise the areas surrounding the stations of Riyadh Metro for residential development, according to local media.

Ali Al-Jabir, undersecretary for planning and studies at Saudi's housing ministry, said this move is a part of the agency's tenth development plan.

The Kingdom has witnessed a lack of diversity in housing products for "several years", he continued.

The housing ministry has established 22 programmes to rectify this, Al-Jabir added.

It is likely the homes around Riyadh Metro will be developed in collaboration with the Arriyadh Development Authority, the agency behind the rail project.

The housing ministry's future plans include using land near populated areas in cities, diversifying the role of Saudi's Real Estate Development Fund, and setting up a national centre for property market research, according to Arab News.

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