Real estate expert Yousef Al-Sharida praised the generous donation made by HRH Crown Prince Mohammed bin Salman, Crown Prince and Prime Minister, at his own expense of one billion riyals - to the Development Housing.Sa/77236/">Housing for beneficiaries and deserving families, pointing out that it will make a qualitative leap in stabilizing the real estate market and enhance the achievement of national goals within Vision 2030.
Speaking on the "Good Housing« program, he said that the program will support the ownership of housing. Speaking on Al-Arabiya FM's »Al-Souq" program, Al-Sharida explained that the new measures related to the white land fee system, developing the contractual relationship between real estate parties, and monitoring prices will all lead to regulating the market and supporting the interests of citizens and investors alike.
Al-Sharida said that the new measures will bring a quantum leap in the stability of the real estate market. He pointed out that the most prominent features of the royal directives include providing the Royal Commission for Riyadh City with planned and developed residential plots for citizens, ranging from 10 to 40 thousand plots annually over the next five years, at prices not exceeding 1500 riyals per square meter, with priority for those who are married or over the age of 25 years.
The decisions also included lifting the suspension on selling, buying, dividing and retailing, in addition to accelerating the issuance of building permits and approving plans for lands located north of Riyadh city, opening the way for more available housing opportunities.
In another aspect, the directive included. In another aspect, the directives included the need to make the proposed amendments to the white land fee system within a period not exceeding 60 days, with the aim of enhancing the supply of land and activating the urban development movement, in addition to working to regulate the relationship between landlords and tenants within a period not exceeding 90 days, to achieve a fair balance in the rental market.
These decisions will support real estate sustainability and curb irregular speculation, which will contribute to gradually lowering prices and making real estate ownership a realistic option for a larger segment of citizens.
His Highness the Crown Prince directed the Ministry of Housing and Urban Development to regulate the relationship between landlords and tenants within a period of 90 days to achieve a fair balance in the rental market. His Highness the Crown Prince directed that the housing projects allocated in the donation be completed within a period not exceeding 12 months, and that they be implemented by national companies. His Royal Highness also directed the submission of monthly reports on the progress of work on ownership, in order to ensure that all housing units are delivered within one year only.
His Highness the Crown Prince's donation comes in line with his keenness to deliver all housing units within one year. His Highness's donation stems from his keenness to provide a decent life for citizens and an extension of his great interest in the housing file in general, and housing projects directed at housing deserving families in particular, as this has a great role and impact on the social stability of thousands of families and the development of their members."
His Highness directed that the donation be implemented by national companies.
