|
|
|
RELATED ARTICLES: Saudi to launch Jeddah master plan next week; Jeddah Gate slowly moving; Face to face: Jeddah under the spotlight; 10 KSA projects you should be involved in; KSA invests in its future
Jeddah needs almost one million housing units over the next 20 years, according to a strategic plan prepared by the Jeddah municipality.
The plan has been released to coincide with the Jeddah International Real Estate, Finance and Housing Exhibition 2010 (JIREX 2010) at the Jeddah Centre for Forums and Events.
The Jeddah municipality’s plan is based on present shortages and future requirements. Currently there is a shortage of 283,000 housing units, including 80,000 in the low-income group.
The plan calls for immediately building 151,600 units for accommodating people living in underdeveloped areas, and 51,500 units to meet the demand of population growth.
With regard to future requirement, the strategic plan foresees a need for 570,000 units in the next 20 years, the municipality said, adding that demand for housing was increasing due to the presence of a large number of expatriate workers and inflow of people from villages and cities, apart from population growth.
Nationwide accommodation needs have been estimated at more than five million new housing units by 2020. The plan says Saudi Arabia will require SR 2.4 trillion (US $640 billion) of investment in real estate over the next 20 years.
 |
| Articles | |
| Companies | |
 |
Site Map
 |
 |
 |
 |
|  |
\
FEATURED COMMENT
I can supply any no of houses provided this report is correct,i have a very quick and reliable solution which is cost af