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Asharq Al-Awsat

Business

Riyadh - Omar al-Badwi

Saudi Arabia Allocates 100 Mln Sqm of Land to Reduce Real Estate Prices

Mohammed bin Salman Riyadh

Saudi Minister of Municipal, Rural Affairs and Housing Majed Al Hogail (Asharq Al-Awsat)

Saudi Minister of Municipal, Rural Affairs and Housing Majed Al Hogail said that Crown Prince Mohammed bin Salman ordered allocating the residential sector with 100 million square meters (sqm) of land in Riyadh and other cities, where land and real estate prices are rising.

Al Hogail revealed that about 1.5 million Saudi families have benefited from housing subsidies during the past four years.

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