Saudi to build 12,400 new homes
Jeddah, January 15, 2013
Saudi Arabia plans to build more than 12,400 housing units in various parts of the kingdom soon, according to a news report.
The Real Estate Development Fund has sanctioned new loans worth SR5 billion ($1.333 billion) for the purpose, said the Arab News report.
Muhammad Al-Abdani, director general of the fund was quoted by the report as saying the total value of loans approved for building 12,472 homes in different cities and towns would reach SR5.19 billion.