Crown prince donates SR1bn for Saudi housing projects
RIYADH: Saudi Crown Prince Mohammed bin Salman pledged an SR1 billion ($266 million) donation on Monday to support housing projects for eligible Saudi beneficiaries and families in need.
The donation at his own private expense to the National Development Housing Foundation aims to help beneficiaries achieve home ownership.
It reflects the prince's 'continuous attention and support for providing a decent life for citizens, by supporting the initiatives and projects aimed at providing housing for them in various regions of the Kingdom,' the Saudi Press Agency reported.
The crown prince has mandated that the housing projects designated for donation be completed within a period not exceeding 12 months, and that they are implemented by national companies.
He also ordered authorities to submit monthly reports on the progress of home ownership, in order to ensure the handover of all housing units within one year as well as transparency and accountability.
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