Saudi Arabia aims to provide housing for 100,000 low-income families over the next year as part of its economic reforms announced last this week.
“In line with Saudi Vision 2030, 100,000 housing products will be allocated and delivered to citizens entitled to subsidies,” the ministry said via Twitter.
The assistance to the families, in the form of land, villas, apartments or financing, will be extended over a year starting on May 8, the ministry said, without giving further details.
The Vision 2030 aims to increase the rate of home ownership among Saudi citizens to 52 percent by 2020 from 47 percent currently.
Under the plans Riyadh will provide funding and mortgages and try to encourage the private sector to build houses.