Arab News, Thursday, Jan 06, 2022 | Jamada Al-Aakhirah 03, 1443
Saudi Arabia’s idle land program allocates $532m of its revenues to housing projects
Saudi Arabia:
Since it was first launched, Saudi Arabia’s idle
land program has already disbursed SR2 billion ($532 million) of its revenues to
develop infrastructure projects of over 80 housing projects across the Kingdom.
This comes as the program aims to increase home
ownership for Saudi families to 70 percent by 2030, in accordance with the
objectives of the Iskan Program, SPA reported.
The program has enabled over 185 thousand Saudi
families to obtain appropriate housing options since it started, according to
the Saudi Press Agency.
Last month, the idle land program announced the
start of the second phase’s implementation, to achieve the program's objectives
of ensuring fair competition and a balance between modern estates’ supply and
demand.