KSA needs to build 143,000 units a year

Updated 19 March 2013
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KSA needs to build 143,000 units a year

Tarek Ali Fadaak, a member of the Shoura Council, said the Kingdom is in need of 143,000 housing units annually.
Fadaak said the housing sector needed long-term financing while the real estate sector’s needs are short-term.
The Shoura member also stressed the need to have a clear understanding of all aspects of a problem in order to find suitable solutions for it. “For instance,” he said, “the limited income group is not clearly defined.”
He commended the “constructive steps” taken to end the housing problem with the 500,000-unit free housing project ordered by Custodian of the Two Holy Mosques King Abdullah and the adoption of a housing strategy that seeks to facilitate every citizen owning a house, in addition to the launch of the mortgage law and the Real Estate Development Fund facility that provides loans up to SR 500,000 to an individual looking to buy a house.
By contrast, Tunisia’s Housing Minister Shahida Faraj Bouraoui said in her address to the forum: “The Tunisian government’s efforts in the housing sector focuses on encouraging private companies to invest in the housing sector on the one hand and mounting pressure on the companies to reduce cost and ensure quality on the other.”
She added that the country set up a national agency for housing, which develops land for construction. The Tunisian Real Estate Corporation for Housing, on the other hand, focuses on expensive houses with the aim of making up for the losses incurred by low-cost housing projects, she said. The country has also enacted a number of laws to simplify complicated housing formalities, she added.
Jaime Lerner, former governor of the state of Parana, Brazil, warned decision makers that their housing strategies should consider people’s tastes or else the projects would become a waste of capital. Residential projects should not be far from cities and there should be a public transport system to link the neighborhoods to the city.


UAE body lauds Saudi Arabia’s efforts at enhancing security

Updated 17 January 2019
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UAE body lauds Saudi Arabia’s efforts at enhancing security

  • “The Kingdom acts as a safety net for the Arab and Islamic worlds,” says Federal National Council chair

JEDDAH: A prominent member of the UAE Federal National Council (FNC) has praised the Kingdom’s efforts at enhancing security and development.

Amal Al-Qubaisi, FNC chairperson and speaker, met with members of the Saudi Shoura Council during a delegation visit to the UAE headed by Ahmed Al-Ghamdi, deputy chairman of the Saudi-Emirati Parliamentary Friendship Committee.

Al-Qubaisi reiterated that unity on various regional and international issues enhances security and stability.

“The Kingdom acts as a safety net for the Arab and Islamic worlds,” she said during a meeting at the FNC headquarters in Abu Dhabi. “King Salman is a father figure to both the Saudi and Emirati people.”

Al-Qubaisi said Saudi-Emirati strategic relations are reflected in coordination efforts between the Shoura Council and the FNC and commended the work of Shoura Council Chairman Abdullah Al-Asheikh.

Al-Ghamdi said strong fraternal relations between the two countries would strengthen regional unity and counter foreign actors attempting to sow the seeds of discord.

He also reiterated that the two nations share a common history, lineage and culture.

During the meeting, the two sides discussed ways that the council and FNC could enhance parliamentary relations.

The delegation also met with the Gulf Cooperation Council Parliamentary Friendship Group, which was headed by Mohammed Al-Ameri, chairman of the FNC Defense, Interior and Foreign Affairs Committee. FNC Secretary-General Ahmed Al-Dhaheri was also present at the meeting.

Delegation members also partially attended a regular FNC session, in which they got a glimpse into the council’s day-to-day operations.