23 m sq. meters made available for housing

Fahad bin Muhammad Al-Jubair, secretary-general of the Eastern Province Secretariat, says the secretariat has provided more than 23 million square meters of land dispersed throughout the cities and governorates in the province to the Housing Ministry, in line with Custodian of the Two Holy Mosques King Abdullah's directives in this regard.
“The secretariat intends to address Saudi Aramco, the Ministry of Agriculture and several other institutions, requesting them to make concessions on land they own, which is in excess of their need, to be given to the Ministry of Housing,” said Al-Jubair, expecting positive responses from them in light of their major role in serving the community at large.
Al-Jubair expects that more than 180,000 citizens will benefit from the recent royal decree in Dammam, and has requested all agencies to cooperate and contribute to solving the housing problem facing the country. In the same context, a number of real estate experts and investors demanded the Ministry of Housing sign partnerships and alliances with developers and seek the expertise of international companies specializing in the construction of residential units. They expect the royal decree to revive the Saudi real estate market by more than 40 percent and pump assets into the market.
Land prices are also expected to decrease, as the decision will curb arbitration and speculations on land. However, prices of commercial and investment properties are not expected to drop due to the large demand for such land from real estate investors, according to experts.