Efforts ongoing to boost home ownership rates in Saudi ArabiaOBGplus
With population growth of 2.4% in 2015, there is a rising need for housing in Saudi Arabia, and the government has introduced measures to create half a million affordable units for its citizens, only 30% of whom currently own their own homes. The latest initiative is a 2.5% tax on undeveloped land, which was introduced on June 15, 2016. Eskan In 2011 the late King Abdullah bin Abdulaziz Al Saud called…