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.
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