RIYADH: ARAB NEWS
Published — Wednesday 6 February 2013
Last update 6 February 2013 6:20 pm
The Ministry of Housing plans to implement a program that will result in the construction of 200,000 housing units.
The ministry said that 17,600 units are currently being implemented. There is adequate land for the program.
He said the ministry has brought a foreign expert who will determine the mechanism to help distribute the housing units to individuals. Custodian of the Two Holy Mosques King Abdullah has ordered the construction of 500,000 housing units across the Kingdom as part of social welfare schemes. Construction is scheduled to be competed at the end of this year.
The housing units are intended to meet the needs of the lower income sector throughout the Kingdom.
Key criteria for receiving housing units stipulates that a beneficiary does not own a house, according to a ministry spokesman.
The foreign expert will finalize the distribution mechanism by the end of the year, he said. He said Saudi citizens will be given choice between loans provided by the Real Estate Development Fund (REDF), the housing unit or any other program approved by the Ministry.