RIYADH: The Ministry of Housing has prepared a new 10-point “road map” for the provision of adequate housing units to citizens, according to a recent report released by the ministry.

The package includes the provision of land located near existing infrastructure to fast-track the construction of new housing complexes, along with the release of white (vacant) land, activation of property registration systems, granting of group loans to eligible persons and the encouragement of global real estate developers to develop the local housing market.

Other proposals being circulated include the establishment of cooperative housing societies for communal living arrangements, as well as proposals for the development of new suburbs and cities.

The proposed road map also seeks to expand funding sources for housing development and make housing acquisition easier through cooperation with banks and other funding firms to make access to loans more equitable and efficient.

According to the report, the ministry intends to solidify its partnership with the private sector through a number of housing programs, while seeking to encourage local real estate developers and eligible global contractors to enter the Saudi housing market in coordination with the Saudi Arabian General Investment Authority.

Together, it is expected that they will lay down a flexible mechanism to exempt these firms from certain restrictions, and thus encourage the entry of new and nontraditional building systems.