The Saudi government is working on an ambitious plan to provide housing to 52 per cent of its citizens under the National Transformation Programme 2020 (NTP) within the next four years, said a report.

The ministry has set aside SR59 billion ($16 billion) for the implementation of 21 key initiatives in this regard, reported Saudi Gazette, citing the kingdom's housing minister.

Majed Al Hoqail was addressing a joint press conference along with Minister of Economy and Planning Adel Fakeih, Minister of Health Tawfiq Al Rabiah and Minister of Education Ahmed Al Isa to brief on the four ministries' roles in implementing the NTP.

Al Hoqail said the ministry's focus was on making real estate an attractive sector for all those concerned with it despite the challenges facing it, stated the report.

"The ministry will come out with plans and programmes in the areas of boosting house financing, saving and meeting the demand in the market," noted Al Hoqail.

"The ministry's strategic goals under NTP include improving the performance of the real estate sector and increasing 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," he added.