King Salman: Housing for citizens top priority

Custodian of the Two Holy Mosques King Salman on Tuesday urged the Housing Ministry to continue its efforts to build suitable and affordable housing for citizens, which he said was a priority of his government.

King Salman made the remarks in a speech during a meeting with Housing Minister Majed bin Abdullah Al-Hogail, officials from the Real Estate Development Fund and private sector representatives at Al-Yamamah Palace, SPA reported.
King Salman said it was vital for the ministry to complete projects because it would ensure “comprehensive and balanced development” across all regions of the Kingdom.
“The provision of suitable housing and a decent life for citizens are among our priorities and are receiving my personal attention.” He said the government has issued legislation and set aside huge allocations in the budget for housing in the country.
“The state has encouraged investment in this area and enhanced the role of the private sector as a partner to complement the government’s efforts in achieving this objective.”

“It has also sought to find a balance between supply and demand and encouraged land owners to develop and invest in land, to help bridging the growing need for housing.”
King Salman said the ministry has made significant headway in achieving these goals with its plans, and by drawing in various stakeholders crucial to the process. He wished officials every success in their endeavors “for the provision of suitable housing for our citizens.”
Al-Hogail, in his speech, said that the ministry considers the sector as one of the most important in the country, and that it has been working with the private sector to build a mix of homes for citizens, which were affordable and high quality. He said several agreements have been signed with qualified real estate development companies inside the Kingdom and abroad to build 180,000 residential units across the country.
The country will reportedly has a shortage of 1.5 million homes over the next five years, with the ministry introducing several measures to assist local and international developers built homes for citizen.