During the opening of the “Housing Finance Conference in Saudi Arabia” organized by the Real Estate Development Fund yesterday in Riyadh, Housing Minister Majid bin Abdullah Al-Hogail explained that the Ministry of Housing seeks to increase the volume of real estate financing from 290 billion riyals currently to 502 billion riyals by 2020.

Hogail explained that work is underway to facilitate access to financing so that Saudi citizens have five times more opportunities to obtain it than in the past. <Al-Hogail explained that work is underway to facilitate access to financing to increase the chances of Saudi citizens to five times more than in the past. The Kingdom is increasing activity in the real estate market as it seeks to revive its economy and takes steps to reform the sector as part of the Kingdom's Vision 2030. Al-Haqeel talked about the challenges facing the housing sector in the Kingdom and the remedies and solutions of the housing finance and support policy, the supply support policy, and the new sector regulations and legislation.

Haqeel spoke about the challenges facing the housing sector in the Kingdom and the remedies and solutions.