The Ministry of Housing renewed its intention to establish an endowment fund to support housing for the beneficiaries of security and low-income people and work with the non-profit sector to provide housing. The Ministry signed a memorandum of understanding with the Islamic Development Bank and agreed to invest endowment resources in the field of housing for security beneficiaries and low-income people according to a unified vision and goals, in addition to studying the establishment of an endowment fund and investing resources for affordable housing.

A statement published by the ministry on its Twitter account revealed that the two parties agreed to form a special committee to implement the objective of the memorandum and areas of cooperation within the limits of the rules, regulations and procedures of each party.

This step comes within the framework of the Ministry's determination and endeavor to provide and establish about one million housing units in the next five years, and reduce housing costs to between 200 and 700 thousand riyals.

This step comes within the framework of the Ministry's determination and endeavor to provide and establish about one million housing units in the next five years.