Middle East > Saudi Arabia > Real Estate

Real Estate in Saudi Arabia

  • Saudi Arabia approves loans for 14,480 residential units worth $1.6 billion

    SAUDI ARABIA, 2014/01/04 The Ministry of Housing has approved SR6.03 billion ($1.6 billion) in home loans to build 14,480 residential units across the country. Housing Minister Shuwaish Al-Duwaihi ordered the Real Estate Development Fund (REDF) to pay the money to the new applicants. This is the fifth tranche of loans approved this year. "The REDF succeeded this year in reducing the waiting period for a loan to around 10 years in all regions in the Kingdom, from the additional than 15 years in some regions," Al-Duwaihi said. The citizens who had their loans approved in 2003 would be given the money this year.
  • Saudi Arabia have signed contracts to build 40,000 new homes

    SAUDI ARABIA, 2013/08/27 Authorities in Saudi Arabia have signed SR4bn ($1bn) worth of contracts as part of a plan to build 40,000 new homes and alleviate the kingdom’s housing shortage. The Gulf country’s Ministry of Housing inked deals to develop eight new residential districts. The newspaper said that 26 sqm of plots would be developed in Jeddah, Madinah, Dammam, Al-Ahsa, Qatif, Tabuk and Al-Kharj. At the same time as the projects are complete they will be able to home up to 250,000 people.