At a time when the state is moving to accelerate the development of housing in the Kingdom and solve the housing crisis by enacting several regulations that addressed the many obstacles that were hindering real estate developers, it even went further by allowing the sale of residential units on the map and introducing value-added incentives and administrative facilities that were a dream for developers, foremost among them restoring the trust that had been lost among buyers, project owners, and residential development plans.<\/p>\n
In parallel with the implementation of the new regulations, the Ministry of Housing began fulfilling its promises to make 2107 a new chapter for the ministry as it moves forward towards achieving its strategy, penetrating all avenues. Last week, it launched more than 15.6 thousand housing and financing products.\u00a0 <\/span>Despite all these commendable efforts by the Ministry, the real estate financing catalyst remains missing in this movement that is expected to change the market\u2019s compass and thermometer towards the residential sector.<\/p>\n Yes, the Ministry of Housing and the Saudi Monetary Fund (SAMA) are required to pressure the banks to create strong and courageous regulations that oblige banks to finance real estate development projects under partnership contracts that place the financiers in the role of partners, in order to ensure the continuity of liquidity and the flow of housing products at competitive prices that do not ruin the installments of the beneficiary, who often becomes a loser after the non-incentivized loans become unprofitable.\u00a0 <\/span>It is unreasonable in the economic system that we repeatedly see a decline in bank funding for real estate development projects and related activities, such as construction materials, whose imports were reduced in 2016 to 17%.\u00a0 <\/span>That amounts to three billion riyals; the new funds opened during the year amounted to 14.7 billion riyals, compared to 17.7 billion riyals in 2015.\u00a0 <\/span>This significant decline in support for urban development is putting banks in a position to break the momentum of residential development, which has become a national concern that the state has agreed upon and our wise government has exerted all its efforts to ease the burden on citizens. However, banks still lack the ambition to contribute to achieving the goal of \u00abhousing for every citizen.\u00bb.<\/p>\n We also aspire that the Ministry of Housing continues to support developers by eliminating the fees imposed on real estate exhibitors and paying a sum of 3,000 riyals for each day of display of their projects, as only companies seek to enlighten the public and learn their housing preferences. There is no sale at the exhibitions; we also hope that the Ministry will take on the role of mediator to bring the interests of the three parties (banks, developers, and land owners) closer together so that we can fulfill the wise leadership\u2019s wishes for suitable housing for every citizen.<\/p>","protected":false},"excerpt":{"rendered":" Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>At a time when the state is moving to push the wheel of housing development in the Kingdom and solve the housing crisis by enacting many regulations that addressed many obstacles that were standing in front of real estate developers, and even went further by authorizing the sale of housing units on the map and allocating valuable incentives and administrative facilities that were a dream for developers, on top of restoring the confidence that was lost ... Read more<\/a><\/p>","protected":false},"author":10,"featured_media":13386,"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":[119],"tags":[],"class_list":["post-14757","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-real-estate-finance"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649.jpg",1500,1477,false],"thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-150x150.jpg",150,150,true],"medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-300x295.jpg",300,295,true],"medium_large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-768x756.jpg",768,756,true],"large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-1024x1008.jpg",1024,1008,true],"1536x1536":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649.jpg",1500,1477,false],"2048x2048":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649.jpg",1500,1477,false],"trp-custom-language-flag":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649.jpg",12,12,false],"event-thumbnail":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-300x200.jpg",300,200,true],"event-medium":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-600x400.jpg",600,400,true],"event-large":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-1200x800.jpg",1200,800,true],"event-hero":["https:\/\/amlak.net.sa\/wp-content\/uploads\/2016\/10\/\u0639\u0628\u062f-\u0627\u0644\u0639\u0632\u064a\u0632-\u0627\u0644\u0639\u064a\u0633\u0649-1500x1080.jpg",1500,1080,true]},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a<\/a>","tag_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/14757","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\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=14757"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/14757\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media\/13386"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=14757"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=14757"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=14757"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}