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Real Estate Briefing - Categorized | Middle East and Africa, Mortgage more

Saudi King gifting land undercuts homebuilding promises

Posted on 25 March 2013

Saudi Arabia’s King Abdullah is paying the price for his own generosity as past land giveaways undermine his plans to build half a million homes and open up the country’s mortgage market.
State gifts of urban land complete with roads, water and power have left the government with almost no space of its own to develop within Saudi Arabia’s cities, according to Adnan Ghosheh, an adviser to the country’s Housing Ministry………………………………………..Full Article: Source


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