Real estate expert and investor Salman bin Abdullah Saidan revealed that alliances are being coordinated between real estate development companies in the Kingdom and Chinese and Korean firms to enter the Saudi real estate market and work toward resolving the housing crisis.

Speaking recently at the “Real Estate Professionals” Diwaniya” forum in the Eastern Province, Ibn Saidan confirmed that the alliance is working to address the housing crisis by contributing to the construction of 1.5 million housing units in the Kingdom for the Ministry, explaining that the number of people eligible for housing, including those eligible for social security, stands at 1.7 million. Ibn Saidan emphasized that the coalition of companies requires 1.9 million workers, as well as materials and capital.

Ibn Saidan addressed the issue of undeveloped land around Riyadh, referring to reports estimating its area at 190 million square meters, located outside the urban perimeter and far from urban development, explaining that the cost to the state of developing one square meter of infrastructure is 200 riyals.