News

120,000 houses to be delivered over next 3 years

Saudi Arabia housing

The Saudi Arabian government has announced that 120,000 housing units will be handed out to citizens as part of a SAR 119.5 billion housing programme.

The first phase of the ‘My House’ programme will see these houses distributed to citizens over the next three years. According to the Ministry of Housing, they’ll be handed out on the basis of income level versus family size.

Meanwhile, the Ministry added that 75,000 residential plots will soon be made available for citizens who want to build their own homes. What’s more, funds to support 85,000 citizens who are struggling financially will also be made available.

According to Housing Minister Majer Al-Hogail, the investment in these homes will create SAR 562 billion of economic value, as well as create 47,820 jobs.

Ready to buy your own home? Click here to compare mortgages from the Kingdom’s leading lenders.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Most Popular

yallacompare.com is the leading financial comparison site in the Middle East with operations in the UAE, Qatar, Bahrain, Kuwait, KSA, Lebanon, Jordan and Egypt.

Since 2011, yallacompare has helped users find and compare credit cards, personal loans, mortgages, car loans and bank accounts from the leading banks in the Middle East.

© 2017 yallacompare. All Rights Reserved.

To Top