Saudi Arabia is planning to launch a SAR3bn (USD800mn) programme to build social housing in cooperation with the private sector. The plan, which is under preparation, by the Ministry of Labour and Social Development, involves housing for social security beneficiaries and those in need of housing support, including widows and orphans. Housing will be built in cooperation with the private sector, through build-operate-transfer (BOT) and PPP agreements, with government support of up to SAR3bn, according to Arab News. Saudi Arabia is working to address its shortage of affordable housing. This comes under the umbrella of the economic reform programme, announced in June, which outlined a target to build 1.5mn homes over the next seven to eight years. (ME Construction News)
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