Saudi Housing Ministry aims to increase rate of property ownership, improve real estate sector

A general view shows newly constructed residential buildings in Riyadh, in this April 22, 2013 file photo. (Reuters)
Updated 23 September 2017
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Saudi Housing Ministry aims to increase rate of property ownership, improve real estate sector

RIYADH: The Ministry of Housing has launched programs and initiatives to achieve Vision 2030 and the National Transformation Program (NTP) 2020.
The ministry’s directives aim to give citizens the opportunity to own properties, improve the performance of the real estate sector and increase its production, promote real estate offers, and increase productivity to provide real estate properties in good condition and proper prices. The ministry has launched this directive in an attempt to achieve one of NTP’s goals to increase the rate of property ownership to 52 percent.
The ministry has signed many contracts and conventions with banks, financial institutions and real-estate developers both locally and internationally.
The ministry has continued adopting projects to provide houses for those who are in need of housing support. Currently, 46 projects providing 13,793 housing units are under development in the Kingdom, nine of which have already been delivered in Riyadh, Makkah, Sharkiyah, Qasim, Jawf and Baha.
The ministry is also working to establish infrastructure to provide water, roads, lighting, gardens and spaces for schools and other projects for these units.
The ministry also aims to regulate the rental sector to ensure the rights of the rental parties (landlord and tenant), through a high-tech electronic platform.
One of the ministry’s programs aims to find solutions for the many challenges facing the rental sector, which represents half the housing sector in the Kingdom, in order to create a safe and sustainable housing environment.
The program also aims to reduce obstacles that delay projects and find a proper environment that attracts investments in this sector.


Saudi women incubate creative ideas for community development

Updated 18 August 2018
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Saudi women incubate creative ideas for community development

JEDDAH: The Halcyon Incubator fellowship on Friday concluded a program in Washington, DC for a group of Saudi female pioneers in social development.
Fourteen Saudi innovators working in community development on Thursday gave presentations on seven ambitious projects that highlight applications that they are seeking to implement.
The seven Saudi projects highlighted a number of unique applications, such as the online on-click link between dentists, lab technicians and labs, whose design has shown that it will make a major social change in its country and will save waiting for medical appointments and reports.
Another online project helps children with autism to improve communication skills through games and educational activities.
Another focuses on linking history and modern technology in many languages to improve tourism and make it easier for pilgrims to visit the country.
It also presented practical projects such as “Green Desert,” which seeks to contribute to solving the problem of lack of waste recycling culture in Saudi Arabia.
During his visit to the Halcyon Incubator, the director of innovation and entrepreneurship at Taibah University, Dr. Mohammed Al-Ghamdi, praised its development of social projects. He also congratulated the group of Saudi women for their innovative excellence.
The Saudi Innovations Group has spent two weeks working in the hospitality of the Halcyon Incubator, which has been named the “Kingfisher” as a symbol.
The organization seeks to promote creativity in all its forms throughout the world by stimulating and supporting creators who seek to promote the good in their communities.
The annual program of the Halcyon Incubator sponsors various groups of change-makers in the fields of arts and social projects and provides them with an environment that incubates their bold ideas and helps them to learn, gain experience and knowledge and provide them with free trial opportunities to enhance their talents and visions and transform them into influential energies in society.