11 benefits from the Crown Prince’s donation by one billion riyals to support the ownership of housing for the families due

Specialists in the real estate, engineering and urban planning sector have set 11 benefits from the decision of His Royal Highness Prince Muhammad bin Salman, Crown Prince, Prime Minister, to donate a billion riyals to the Development Housing Corporation “Housing” through the “Jude Housing” initiative.
Al -Mukhlid told Al -Youm: It includes: to reduce the duration of the completion of projects to one year, provide economic opportunities, and support the stability of families with limited income socially and economically.
They pointed out that among the benefits: enabling national companies to invest in development projects, stimulating economic growth, and increasing demand for ready -made housing units.
The specialists pointed out that among the benefits for the generous donation of His Highness the Crown Prince: supporting real estate prices, enhancing real estate financing, and motivating small and medium -sized companies to implement similar projects.
According to the specialists, the benefits included: stimulating local supply chains, and enabling families to own housing, which reduces pressure on the rental market and enhances the financial sustainability of families.

Various fruits

Dr. Walid Al -Zamil, associate professor at the Department of Urban Planning at King Saud University, said: “This generous donation reflects the keenness of His Highness the Crown Prince to achieve comprehensive development, support the stability of families with limited income at the social and economic levels, and integrate them into the urban fabric of cities.”
He pointed out that the donation of His Highness the Crown Prince highlights the leadership’s efforts to distribute support efficiently, through the role of housing associations as a mediator between the owed groups and the Ministry of Housing.

Al -Zamil explained that this donation will provide a strong boost for the real estate sector, by enabling national companies to invest in development housing projects, using environmentally friendly building materials and modern urban designs.
Al -Zamil expected that the donation would contribute to accelerating the implementation of housing projects within 12 months, while achieving goals that include enhancing social stability, stimulating economic growth by creating job opportunities, and supporting environmental sustainability through projects that are compatible with environmental efficiency standards.

Motivating the application

Architectural engineering expert, Rami Khan, praised the expected impact of the decision of His Highness the Crown Prince, explaining that he stimulates the demand for ready -made housing units, enhances real estate financing, and indirectly supports real estate prices as a result of increasing the opportunities for ownership.
He added that the initiative will motivate small and medium companies to implement similar projects after you see the successful results of such a project.
Khan explained that the completion of projects in only one year, from allocation to real estate delivery and registration, is a major achievement compared to traditional projects that usually took from 3 to 5 years.

He stressed that the donation will provide huge opportunities for national companies, as it will increase the demand for local contractors, and will enhance the employment of Saudi labor and engineers, and develop companies’ experiences in managing fast projects.
He expected to activate local supply chains, such as iron and concrete factories, and increase competitiveness between companies to improve quality and speed.

Enhance confidence

The real estate expert, Fawaz Badri, said that His Highness the Crown Prince’s donation is a strategic step that has deep social and economic dimensions, which reflects His Highness’s keenness to meet the needs of citizens and improve the quality of their lives.
Badri explained that the donation will be stable on the housing market, by enabling families to own housing, which reduces pressure on the rental market, and enhances the financial sustainability of families.
Badri added: This step by His Highness the Crown Prince enhances confidence between the citizen and the state.
He pointed out that the family’s possession, gives it a feeling of safety and belonging, and removes the difficulties of escalating rents.

He expected the amount to translate into tangible housing projects, whether by building new units, or financing programs for ownership, which stimulates the real estate sector, and attracts infrastructure investments.
He pointed out that the coverage of all regions of Saudi Arabia will include a fair distribution of development, and will improve the positive discrimination of the various regions.