Al-Haqeel at the Government Communication Conference: We aim to pump 365,000 housing units by 2025

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Minister of Municipal and Rural Affairs and Housing, Majid Al Haqeel, said that providing solutions and facilities contributed to Raising the ownership rate of Saudi households beyond 60%, stressing that the ministry continues to achieve our target of reaching 70% by 2030.

Haqeel added. During the periodic government communication conference on Monday, Al-Hgeel added that the ministry has been able to serve more than 1.4 million families during the past four years, a figure that exceeds the number of beneficiary families during the past 40 years, noting that more than 430 housing units have been pumped, and the ministry targets to pump 365,000 housing units until 2025.

Haqeel said that the Ministry of Housing is continuing to achieve our target to reach 70% by 2030. <He pointed out that the Crown Prince, Prince Mohammed bin Salman, directed the allocation of land with an area of 100 million square meters for the city of Riyadh and some cities that witness population density, and the Crown Prince also directed the treatment of Jeddah rain, and 9 billion riyals were allocated for this. "We are working in cooperation with the Central Bank on fiscal and monetary policies that contribute to mitigating the impact of high financing margins."

Haqeel explained. Al-Hogail explained that Saudi Mortgage Refinance Company has supported liquidity in the real estate finance market and provided sources for long-term financing solutions, revealing that the ministry has reached 80% in completing housing projects and is working to increase this percentage.

Hogail said that the ministry has reached a percentage of 80% in the completion of housing projects, and is working to increase this percentage.

<The Minister of Municipal and Rural Affairs and Housing pointed out that the ministry has focused on four main policies in the housing sector: financing and housing support, supply support, regulations and legislation, and service development. <"We aim to develop the urban landscape, prevent visual distortions, and mainly maintain health and safety, while ensuring the quality of services provided to beneficiaries. We have transformed monitoring into performance contracts, and the focus will be on increasing the rate of compliance, and the returns due to the private sector partner will be linked to the rate of compliance and not to the revenue generated."

Haqeel stressed that the private sector partner's returns will be linked to the rate of compliance and not to the revenue generated. At the end of his speech at the Government Communication Conference, Al-Haqeel emphasized that the ministry aims to promote the principle of transparency in legislation and procedures, to achieve the highest levels of compliance in adhering to municipal requirements.