RIYADH: Since it was first launched, Saudi Arabia’s idle land program has already disbursed SR2 billion ($532 million) of its revenues to develop infrastructure projects of over 80 housing projects across the Kingdom.
This comes as the program aims to increase home ownership for Saudi families to 70 percent by 2030, in accordance with the objectives of the Iskan Program, SPA reported.
The program has enabled over 185 thousand Saudi families to obtain appropriate housing options since it started, according to the Saudi Press Agency.
Last month, the idle land program announced the start of the second phase’s implementation, to achieve the program’s objectives of ensuring fair competition and a balance between modern estates’ supply and demand.