KSA sets aside 8000 hectares for mega housing push
Kingdom to build 2.15m homes to cater for shortfall in housing market
Saudi’s Ministry of Housing has allocated more than 8,000 hectares of land for housing projects throughout the Kingdom as part of the nation’s push to build 500,000 new homes.
The initiative, implemented under the directives of Mosques King Abdullah Ibn Abdulaziz Al Saud, will cost KSA over $67b, and is in addition on top of existing plans to add 1.65m homes over the next five years.
The Ministry of Housing also signed a contract to implement the first phase of the projects in Riyadh, Kharj, Dammam, Ahsa, Qatif, Jeddah, Madinah, Tabuk, and Khamis Mushait. Details of the projects were not disclosed.