Website launched to support housing project in Saudi Arabia

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The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes. (SPA)
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The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes. (SPA)
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The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes. (SPA)
Updated 19 March 2019
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Website launched to support housing project in Saudi Arabia

  • Real estate financing for January hit SR4.7 billion, and coming months were expected to see even bigger figures, Al-Hogail told Reuters news agency on the sidelines of a housing conference in Riyadh

RIYADH: A new website has been set up to support a housing project for 10,000 units in the Kingdom.
Housing Minister Majid Al-Hogail, and Commerce and Investment Minister Majid Al-Qassabi on Sunday launched Benaa Housing, which will help construction companies and contractors contribute to a development program in the Kingdom.
Benaa Housing aims to speed up the process of building 10,000 housing units in various parts of Saudi Arabia by enabling small and medium enterprises in the construction sector to access and contribute to projects and opportunities. The estimated cost of the project is SR3.5 billion ($910 million).
“The Ministry of Housing is always keen to provide adequate housing, solutions, and services suitable to all families, especially the beneficiaries of the Housing Development Program in all regions of the Kingdom,” Al-Hogail said.
Al-Qassabi said the new platform would generate more business opportunities for small and medium enterprises and provide suitable apartments for middle-class and lower-income families.
“The Ministry of Commerce and the Ministry of Housing are working together to provide the necessary services for citizens from different social classes and groups, and the new platform is the fruit of these efforts,” he added.
Earlier this month, the housing minister said he expected investments in the real estate financing sector to reach between SR60 billion and SR80 billion this year.
Real estate financing for January hit SR4.7 billion, and coming months were expected to see even bigger figures, Al-Hogail told Reuters news agency on the sidelines of a housing conference in Riyadh.
Saudi home ownership was growing between 6 and 7 percent annually, he said, adding that he hoped to raise home ownership to 15,000 new households per month by 2020, from a little over 10,000 per month now.
The ministry aims to increase housing ownership through policy and stimulating the private sector, according to its website.
The challenges facing the ministry are the limited availability of suitable units for all parts of the population; difficulty in accessing adequate housing finance; the inefficiency of the real estate sector and heavy reliance on government funding.
“Even though 47 percent of Saudi families already own their homes, we aim to increase this rate by 5 percentage points by 2020,” the Kingdom’s Vision 2030 reform plan states. Vision 2030 also aims to speed up construction and provide Saudis with high-quality, competitively priced housing, and to stimulate localization of the country’s construction industry.


Key moments in the driving history of Saudi women

Updated 24 June 2019
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Key moments in the driving history of Saudi women

  • A Sept. 26, 2017, royal decree ordered the lifting of a ban on women driving in Saudi Arabia
  • Last April, Saudi racing car driver Reema Juffali made her Formula 4 British Championship debut in UK

Sept. 26, 2017: A royal decree orders the lifting of a ban on women driving in the Kingdom.

Jan. 11, 2018: The first car showroom for women only opens in a Jeddah shopping mall.

June 4,2018: The first driving licenses are issued to 10 Saudi women in the Kingdom, who exchange their foreign licenses for Saudi ones ahead of the historic day.

June 8, 2018: Laura Alho, otherwise known as Blue Abaya, is the first European woman to get a Saudi driver’s license.

June 24, 2018: The first day women are allowed to drive on the Kingdom’s roads. Many female drivers, including Shoura Council member Leena Almaeena, hit the roads after midnight. Traffic police hand out flowers to female motorists in the morning.

June 24, 2018: Aseel Al-Hamad becomes the first Saudi woman to drive an F1 car in a symbolic lap around the French Grand Prix circuit in Le Castellet.

June 27, 2018: Saramma Thomas, a nurse, becomes the first Indian woman to get a Saudi driving license.

April 6-7, 2019: Saudi racing car driver Reema Juffali makers her Formula 4 British Championship debut at Brands Hatch in the UK.