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\nSheikh \/Othman bin Sulaiman Al-Majid, told Amlak newspaper that the real estate solutions proposed by the government under the guidance of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz\u2014the most recent of which were his orders to expedite the process of handing over government-owned land to Saudis and granting them \u201cBinaa\u201d loans, are considered partial solutions in light of the steady urban growth and inflation the Kingdom is experiencing, as well as the worsening housing crisis.
\nWe need more policies to bridge the gap
\n A study conducted by the University of Business and Technology, titled \u00abThe Housing Crisis in Saudi Arabia\u2026 Causes and Proposed Solutions,\u00bb revealed that 28 percent of Saudis live in apartments, and 28 percent live in low-income housing, The study indicated that the projected demand for housing in Saudi Arabia over the next ten years is expected to reach 1,761,000 housing units, while the total projected supply is 1,300,000 housing units, As a result, the housing supply-demand gap for the next ten years will be 453,000 housing units, meaning that we still need more economic, real estate, and development policies to bridge this gap between supply and demand. .
\nIntegrated solutions as a single package
\nAl-Majid added that solutions to the housing crisis and real estate problems must be presented to the real estate market as a single, integrated package\u2014whether through the formation of appraisal bodies (the Council of Certified Appraisers), regulating the real estate sector, combating unregulated practices in real estate companies and agencies, and expanding access to financing and mortgages\u2014all of which, taken together, constitute a portion of the solutions that do not bridge the existing gap.\u201d .
\nThe Chairman of the Board of Directors of Asas Real Estate also highlighted the steps the company is taking to regulate real estate activities within its jurisdiction, including determining the true value of real estate properties, managing sales transactions through contracts and buy-sell agreements between all parties involved, and developing an applicationand transitioning real estate transactions from informal to officially approved formats by conducting studies and preparing reports on all real estate transactions\u2014including sales, purchases, leases, appraisals, and property management\u2014and organizing all such processes according to standardized templates to minimize arbitrariness . <\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>\u00a0\u00a0\u00a0 Sheikh \/Othman bin Sulaiman Al-Majid, told Amlak newspaper that the real estate solutions proposed by the government under the guidance of the Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz\u2014the most recent of which were his orders to expedite the process of transferring government-owned land to Saudis and granting them \u201cBinaa\u201d loans, are considered partial solutions in light of the steady urban growth and inflation that \u2026 Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"amlak_video_sent":"","footnotes":""},"categories":[7791],"tags":[],"class_list":["post-1284","post","type-post","status-publish","format-standard","hentry","category-national-strategy"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629<\/a>","tag_info":"\u0627\u0644\u0627\u0633\u062a\u0631\u0627\u062a\u064a\u062c\u064a\u0629 \u0627\u0644\u0648\u0637\u0646\u064a\u0629","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1284","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=1284"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/1284\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=1284"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=1284"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=1284"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}