Saudi Arabia sees 17% surge in construction of housing units

Saudi government said the number of housing units that began construction during the first three months of 2020 surged by 17 percent to 85,900 units from 73,400 units during the last quarter, reported Trade Arabia on Wednesday, citing the housing ministry’s periodic housing bulletin.

The number of completed residential units across Saudi Arabia rose to 82,500 in the first quarter, up 1.75 percent against 81,100 units in the fourth quarter of 2019, stated the report.

There was a slight 0.8 per cent increase in the housing sector price index compared to the the fourth quarter of 2019, the report said.

Meanwhile, Saudi authorities said a total of 19,800 households had benefitted from its Sakani housing programme in May. Of these, 10,700 families have already moved into their new houses, it added.