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The Saudi Arabian Housing Ministry has revealed plans to build 7,000 new homes in Riyadh
According to the Saudi Arabian daily Saudi Gazette, the ministry has entered into a contract with a local firm to deliver the units on land along Othman Bin Affan Road, north west of King Khaled International Airport.
The houses will be built on a five million square metre plot of land and take two years to complete. The scope of work includes all utilities such as water, stormwater and sewage networks as well as a new sewage plant, roads and parks. Locations for a number of community centers have been allocated. These will offer a suitable social environment with integrated services and utilities.
Four mosques and 21 local mosques will be built across the site, as well as 48 schools, 24 for boys and 24 for girls.
Last month, a member of the country’s Shoura Council, Tarek Ali Fadaak said that the country needed 143,000 homes a year in order to meet demand.
The country’s population has increased in the past four decades and will reach 33.5mn by 2020 up from its current level of 28mn.
Mike Williams, head of research at the CBRE property consultancy in Bahrain, was quoted as saying by Reuters that about 60 per cent of nearly 20mn Saudi Arabian citizens live in rented accommodation rather than homes they own, and much of the housing were in poor condition.
Because of the housing shortage, rising rents have been a major source of inflation. According to the Saudi Arabian ministry of housing, bidding for other projects in all regions of the Kingdom will begin shortly.