Saudi Arabi to build almost 13000 new homes
Saudi Arabia plans to build more than 12,400 housing units in various parts of the Kingdom soon, according to a news report.
The Real Estate Development Fund has sanctioned new loans worth SR5 billion ($1.333 billion) for the purpose, said the Arab News report.
Muhammad Al-Abdani, director general of the fund was quoted by the report as saying the total value of loans approved for building 12,472 homes in different cities and towns would reach SR5.19 billion.
- The UAE may no longer be a dry desert, but it certainly is dry on liquidity
- Looking for inspiration? Top ten interior design trends in the Middle East
- Dream or nightmare: how exactly will Dubai's economic landscape look by 2020?
- Another red flag: a massive housing shortage potentially awaits the GCC
- Changing the landscape: why exactly are Arab investors buying property in London?