Her Excellency Mrs. Amna bint Ahmed Al-Rumaihi, Minister of Housing and Urban Planning, affirmed that the Ministry supports all policies and initiatives that aim to increase the supply of residential real estate that is appropriate to the value of housing finance that is provided to citizens, whether through the government land development rights program, which the Ministry is working to expand. During the next stage, or through distinguished partnership with real estate development companies and real estate brokers in the Kingdom.
This came during a discussion session held by the Ministry of Housing and Urban Planning with a number of real estate companies in the Kingdom, in order to discuss developments in providing residential real estate at prices commensurate with the value of financing that is provided to citizens, including units, vouchers and apartments in various notes, in the presence of Engineer Asim Abdul Latif Wakeel. The Ministry of Housing and Urban Planning, Dr. Khaled Abdullah, Director General of the Housing Bank, and a number of ministry officials, as this meeting comes within the framework of a series of periodic meetings held by the ministry with real estate companies since the inauguration of new housing finance in August of last year.
During the session, Minister Amna Al-Rumaihi reviewed the most prominent developments in the new housing financing program, and the positive results it achieved in a short period of time, and its ability to meet a large number of citizens' requests, noting that the program contributed at that time to the growth of real estate trading rates, reaching 14.5% during The first quarter of this year, as housing finance provided the purchasing power to a large segment of citizens, which is the acquired that must be preserved and developed by increasing the supply of real estate that suits the beneficiaries of housing finance.
The minister also affirmed the ministry's readiness to receive all proposals and observations of real estate development companies in the Kingdom, in a way that contributes to achieving the goal of increasing the number of real estate offered at reasonable prices, noting that the ministry, for its part, has made progress on its part in terms of the government land development rights program, which will provide units at reasonable prices. , reviewing the pilot phase of the program represented by the Al-Lawzi project, which provides 132 housing units, the benefit of which will be limited to the beneficiaries of housing finance.
The minister noted that the ministry plans to increase the number of events that attract citizens to learn about the financing and real estate services that suit them, and called on real estate companies to positively participate in these events in order to achieve the desired results.
