Saudi Arabia: Huge investments needed for housing development
According to Al-Khaleej newspaper, Mr. Saoud Al-Qaseer, Director General of the Dar Al Arkan Real Estate Development Company, a leader in real estate development in the Kingdom of Saudi Arabia, announced that Saudi Arabia needs 4 million houses through the next two decades to satisfy the growing domestic population growth.
He also said that SR 2 trillion worth of investments needs to be pumped into the housing sector in order to avoid a further increase in the housing shortage in the Kingdom. He estimated the current housing shortage in Saudi Arabia at 2.7 million houses.
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