52% of Saudis to own a house under NTP

Minister of Housing Majed Al-Hoqail said that the main goal of his ministry under the National Transformation Program 2020 (NTP) is to enable at least 52 percent of Saudis possess a house of their own. The ministry will implement 21 initiatives costing a total of more than SR59 billion, he said in remarks while addressing a joint press conference to brief on four ministries’ roles in implementing the NTP.

Minister of Economy and Planning Adel Fakeih, Minister of Health Tawfiq Al-Rabiah, and Minister of Education Ahmed Al-Isa also attended the press meet, the Saudi Press Agency reported.

Al-Hoqail said the ministry’s focus is on making real estate an attractive sector for all those concerned with it despite the challenges facing it.
“The ministry will come out with plans and programs in the areas of boosting house financing, saving and meeting the demand in the market. The ministry’s strategic goals under NTP include improving the performance of the real estate sector and increase its contribution to the gross domestic product, boosting real estate supply, and raise productivity so as to make available of affordable and quality housing products, in addition to enabling citizens to get housing financing.”

Speaking to reporters, Fakeih said the citizen is a partner in the follow-up of the government’s initiatives within the NTP. He stressed that there is an opportunity for citizens to comment objectively on everything that needs development or improvement, including levels of expected accomplishments and the completion of initiatives. Fakeih said the National Center for Measuring Public Bodies, chaired by Deputy Crown Prince Muhammad Bin Salman, second deputy premier and minister of defense, and chairman of the Council of Economic and Development Affairs (CEDA), will be launched independently and separately as an implementation of the Vision 2030 tools during the coming months.

Minister of Education Ahmed Al-Isa said the ministry has identified eight strategic goals and there will be 36 initiatives to realize these goals aimed at bringing about a qualitative leap in the education system, with its both public and private arms.

A total of more than SR24 billion is expected to be spent for implementing these goals over a period of five years. He said that a comprehensive study containing various means of financing to implement more educational projects and dispense with rented school buildings has been presented to CEDA. The ministry’s strategy also includes supporting investment in private education and raise private sector’s stake in education.

Minister of Health Al-Rabiah said the ministry has come out with 18 initiatives with a budgeted estimates of more than SR23 billion. The ministry’s strategic goals aimed at making available of the world class medical services and facilities for the citizens.