Saudi Arabia to build 53,000 new residential units in Riyadh

Saudi Arabia announced plans to build 53,000 new residential units in Riyadh and transfer their ownership to the Ministry of Municipal and Rural Affairs and Housing, reported Saudi Press Agency (SPA).

This comes in line with the Crown Prince’s plan to double the number of housing units in the capital and help boost the rate of home ownership of nationals.

As per the directive from the Crown Prince, new residential plots will be allocated on an area of 20 million sqm north of Riyadh.

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