The new procedures from the Crown Prince provides a quick solution to the challenges of housing property

The Minister of Economy and Planning, Faisal Al -Ibrahim, stressed that the new measures approved by His Royal Highness Prince Muhammad bin Salman bin Abdulaziz Al Saud, Crown Prince, Prime Minister, will contribute to providing quick solutions to face the challenges of the residential real estate sector..
In a special interview with Al -Arabiya, Al -Ibrahim explained that the primary goal of these measures is to increase the supply of residential real estate, which contributes to improving the quality of life and raising the level of the welfare of the Saudi citizen.

He pointed out that determining prices not exceeding 1500 riyals per square meter comes within the framework of achieving the stability of spending on the residential property within the total families’ spending.

Minister of Economy and Planning Faisal Al -Ibrahim

The minister pointed out that these steps will reflect positively on the economy as a whole, by stimulating spending and consumption in sectors other than the property..
More clear cost
He added that these measures will make the cost of the property more clear to the private sector, including small and medium -sized companies and business leaders, which enhances their ability to plan and invest.
He also stressed that the organizational intervention in the real estate sector allows the private sector to focus on developing projects of qualitative value, which supports growth and sustainability.

His Highness, the Crown Prince, was directed to lift the suspension on the lands of the north of Riyadh, after a stage of urban planning for the region, to enhance Riyadh’s position as one of the best international capitals for life and work, and generous approval was issued based on what was studied by the Royal Commission for the city of Riyadh.
The measures directed by His Highness the Crown Prince – may God protect him – confirm a number of concerned authorities regarding the lands of the city of Riyadh, the extent of the rational leadership’s commitment to provide effective and rapid solutions to face the challenges of the real estate sector in both residential and commercial parts, and to achieve stability in the real estate market in a way that reflects positively on individuals and the private sector.