Saudi Arabia sets up ministry for housing

RIYADH - Saudi Arabia has set up a ministry for housing, the kingdom’s state news agency said on Friday, as the world’s largest oil exporter seeks to address huge demand for new homes.

By (Reuters)

  • Follow us on
  • google-news
  • whatsapp
  • telegram

Published: Fri 25 Mar 2011, 10:11 PM

Last updated: Tue 7 Apr 2015, 9:25 AM

The Gulf nation is facing a massive housing problem due to rapid population growth and an inflow of expatriate workers coming to the kingdom.

A report by Banque Saudi Fransi last week said private and public developers need to build about 275,000 units a year through 2015 to meet the country’s demands for about 1.65 million new homes.

Shwaish bin Saud al-Duwaihi al-Mutairi was appointed minister of housing, it said in a statement without giving further details.

Last week King Abdullah announced $93 billion in social handouts which included 250 billion riyals ($66.7 billion) to be spent on 500,000 new homes.

The move was part of the ruler’s efforts to stave off a wave of Arab unrest that has gripped neighbouring Bahrain, Yemen and Oman.

More news from