Saudi Arabia plans housing PPP programme
Date
August 16, 2016
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Saudi Arabia Ministry of Labor and Social Development is planning to launch a program to develop a social housing PPP program in the kingdom.
The US$800 plan will provide housing for social security beneficiaries as well as for those in need for housing support, including widows and orphans.
The government is seeking private investors to undertake the projects under build-operate-transfer (BOT) and public-private partnership (PPP) models. Through these agreements, investors will receive revenues from the sale or rent of the completed home projects.
This social housing program is a Saudi's government response to the lack of housing in the country. According to sources the country will need three million new homes by 2025.
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