Housing project activity in Saudi Arabia picked up by nearly 17 percent in the first quarter of 2020 despite business curbs imposed by the Gulf Kingdom to prevent the spread of coronavirus, according to the Housing Ministry.
Around 85,928 new houses were built by private developers in partnership with the public sector in the first quarter of this year compared with 73,434 units in the fourth quarter of 2019, the Ministry said in a report on its website.
Units launched in 2019 and completed in the first quarter of 2020 also increased to 82,563 from 81,146 houses in the fourth quarter of 2019, the report showed.
Saudi Arabia, the largest Arab economy, has awarded scores of contractors to private developers over the past few years to construct houses for its fast-growing population within its long-term economic diversification strategy dubbed “Vision 2030.”
Zawya
15/06/2020
