{"id":11756,"date":"2016-05-01T20:34:50","date_gmt":"2016-05-01T13:34:50","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/?p=11756"},"modified":"2016-05-01T18:40:56","modified_gmt":"2016-05-01T11:40:56","slug":"saudi-arabia-to-provide-housing-to-100000-low-income-families","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-arabia-to-provide-housing-to-100000-low-income-families\/","title":{"rendered":"Saudi Arabia to provide housing to 100,000 low-income families"},"content":{"rendered":"


\nSaudi Arabia’s government will provide housing for 100,000 low-income families over the next year as part of a reform programme designed to strengthen the economy and reduce its dependence on oil, the housing ministry said on Sunday.The announcement suggests authorities are keen to show swiftly that the reform plan, announced last week, is delivering tangible public benefits. The plan will also involve economic pain as taxes are raised and subsidies are cut.”In line with Saudi Vision 2030, 100,000 housing products will be allocated and delivered to citizens entitled to subsidies,” the ministry said via Twitter.The assistance to the families, in the form of land, villas, apartments or financing, will be extended over a year starting on May 8, the ministry said, without giving further details.Among dozens of economic and social goals, the Vision 2030 plan aims to increase the rate of home ownership among Saudi citizens by 5 percentage points by 2020 from 47 per cent now.”We will meet this target by introducing a number of laws and regulations; encouraging the private sector to build houses; and providing funding, mortgage solutions and ownership schemes that meet the needs of our citizens,” the plan said.Over the last few months, authorities have taken several steps to improve the supply of affordable homes. In December, the central bank decided to license a national home finance company, Bidaya.In February, the central bank said it would launch an “affordable mortgage” programme under which home buyers would be responsible for an advance payment of 15 per cent of the property’s value. Commercial banks would supply a further 70 per cent, as well as an additional 15 per cent that would be guaranteed by the ministry of finance.business@thenational.aeFollow The National’s Business section on Twitter
\n
\nSource : thenational.ae
\nRead more…Saudi Arabia to provide housing to 100,000 low-income families<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia’s government will provide housing for 100,000 low-income families over the next year as...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-11756","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-33C","jetpack-related-posts":[{"id":38655,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/saudi-housing-ministry-plans-centre-to-resolve-housing-disputes\/","url_meta":{"origin":11756,"position":0},"title":"Saudi housing ministry plans centre to resolve housing disputes","date":"December 21, 2016","format":false,"excerpt":"\r Saudi Arabia plans to set up a centre to resolve disputes between tenants and landlords.It comes as the kingdom steps up plans to regulate its housing sector as part of wide-reaching plans to reform the country's property market.According to the English language daily Saudi Gazette, the Saudi housing ministry\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":15898,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/kingdoms-transformation-plan-aims-to-lift-property-ownership-among-saudis\/","url_meta":{"origin":11756,"position":1},"title":"Kingdom's transformation plan aims to lift property ownership among Saudis","date":"June 8, 2016","format":false,"excerpt":"\r The Saudi Arabian government is proposing a raft of measures aimed at boosting the country's undersupplied housing market as part of its National Transformation Plan.This week Saudi Arabian officials started to flesh out the plan aimed at reducing the country's reliance on oil revenue following the 2014 oil price\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":40151,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/some-higher-income-families-allowed-to-get-rental-flats\/","url_meta":{"origin":11756,"position":2},"title":"Some higher income families allowed to get rental flats","date":"January 10, 2017","format":false,"excerpt":"\r The current income cap for public rental housing is $1,500, but the HDB allows some flexibility. (Photo: ProjectManhattan, Wikimedia Commons)\u00a0 The income ceilings set for various government subsidies serve different purposes, and differ based on the nature of help provided as well as the target population, said the Ministry\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":122400,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/hdb-not-to-provide-direct-financial-subsidies-for-open-market-rental\/","url_meta":{"origin":11756,"position":3},"title":"HDB not to provide direct financial subsidies for open market rental","date":"October 6, 2021","format":false,"excerpt":"\r The decision by HDB not to provide direct financial subsidies for rental units on the open market was made to prevent driving up market rentals and inducing demand. The Housing and Development Board (HDB) has no plans to provide flat buyers with direct financial subsidies to help them rent\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"https:\/\/i1.wp.com\/www.siamlandbank.com\/propertynews\/wp-content\/uploads\/2021\/10\/rental-hdb-singapore.jpg?fit=820%2C410&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":18170,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/reform-wave-primes-the-pump-on-saudi-arabia-property-investment\/","url_meta":{"origin":11756,"position":4},"title":"Reform wave primes the pump on Saudi Arabia property investment","date":"June 30, 2016","format":false,"excerpt":"\r Property brokers in Saudi Arabia are predicting a surge in \u00adinvestment in the kingdom as the government pushes ahead with plans to tackle a housing shortage.Brokers say that plans to introduce Real Estate Investment Trusts to Saudi Arabia, the \"white land\" tax penalising property speculation and an ambitious house-building\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10306,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/uae-developers-eagerly-anticipate-formation-of-saudi-housing-company\/","url_meta":{"origin":11756,"position":5},"title":"UAE developers eagerly anticipate formation of Saudi housing company","date":"April 9, 2016","format":false,"excerpt":"\r \r The revelation by Saudi Arabia that it will launch a state-backed development company in a bid to ease its housing shortage has sparked the interest of UAE developers. Saudi Arabia's housing minister, Majed Al Hogail, told Bloomberg it would create a development company that will give businesses plots\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11756"}],"collection":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/comments?post=11756"}],"version-history":[{"count":0,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/posts\/11756\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/media?parent=11756"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/categories?post=11756"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.siamlandbank.com\/propertynews\/wp-json\/wp\/v2\/tags?post=11756"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}