Saudi Housing Ministry Announces Achieving 2017 Targets

The Saudi Housing Ministry and the Real Estate Development Fund announced that it has achieved its 2017 targets. (SPA)
The Saudi Housing Ministry and the Real Estate Development Fund announced that it has achieved its 2017 targets. (SPA)
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Saudi Housing Ministry Announces Achieving 2017 Targets

The Saudi Housing Ministry and the Real Estate Development Fund announced that it has achieved its 2017 targets. (SPA)
The Saudi Housing Ministry and the Real Estate Development Fund announced that it has achieved its 2017 targets. (SPA)

The Saudi Housing Ministry and the Real Estate Development Fund announced on Saturday achieving 2017 targets on providing over 280,000 housing and financing products to Saudi families across the kingdom.

In a statement, the ministry announced on Saturday 36,798 housing and financing products as part of the 11th and the last batch of “Sakani” (My Housing) program for 2017.

The 36,798 residential and financing products include 24,207 housing units via sale on the map program, 4,591 free land plots and 8,000 backed financing.

The goal was set up by the national residential program launched in mid-January.

Among the 2017 objectives was having 120,000 housing units made ready for residence and the offering of 75,000 free land plots for construction.

More so, 85,000 funds were provided by the national fund for real estate development through banks and financial institutions, while the ministry revealed details of the second phase of the national initiative for 2018.

The program aspires to serve a greater number of citizens.

Mohamed Al-Bati, CEO of the national housing company, pointed out that achieving the 2017 goals drives the Housing Ministry to expand its services to citizens.

He positively recounted the active partnership with the private sector partook in with real-estate developers.

He also pointed out that these partnerships with real estate developers serving the national economy have resulted in realizing several projects, including the construction of thousands of housing units—a progress which empowered Saudi families and raised the percentage of housing ownership.

Bati pointed out that there is a clear plan and details to be announced on all future housing programs.

He pointed out that there were royal directives issued on a package of incentives.

Speaking on involving the private sector with the national housing projects, Bati said it stimulates real estate competition and results in producing many housing units at different rates.



Logistics Zones Spread in Saudi Arabia to Consolidate World Trade

Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
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Logistics Zones Spread in Saudi Arabia to Consolidate World Trade

Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA
Containers are seen at King Abdul Aziz Port, also known as Dammam Port. SPA

Data has shown a spread of logistics areas in Saudi Arabia, bringing the total number of existing centers to 22 in the past year, a 267% increase compared to the base year 2021, with a total area exceeding 34 million square meters.

This year, several international companies announced the opening of new logistics areas, the latest of which was the opening of Maersk, the Danish international container shipping company, which represents the largest logistics investment in Jeddah port in Western Saudi Arabia valued at 1.3 billion riyals (350 million dollars).

Saudi Arabia also continues its efforts to enhance its transport and logistics services system, planning to reach 59 logistics areas by 2030, to strengthen competitiveness, and support trade and industrial movement.

According to the Warehousing and Logistics Statistics Publication 2023 of the General Authority for Statistics, the Eastern Region had the highest number of logistics centers, with 6 centers covering an area of 6.3 million square meters, followed by Riyadh Region and Makkah Region, each with 5 logistics centers, with a total area of 20 million square meters in Makkah and 4.9 million square meters in Riyadh.

The publication said data indicated that the total quantity of cargo imported and exported via maritime transport reached 308.7 million tons, and the quantity of external cargo via land transport reached 24.9 million tons. The quantity of cargo transported by railway was 14.3 million tons, while the quantity of cargo via air transport, both imported and exported, accounted for 918 thousand tons.

Data also revealed that the total number of warehouses in the Kingdom was 12,451, covering an area of 22.8 million square meters. Riyadh Region had the highest number of warehouses and area, with 6,584 warehouses covering an area of 10.6 million square meters, followed by Makkah Region with 2,224 warehouses, covering an area of 6.5 million square meters.

The number of general warehouse licenses was the highest, totaling 6,923 licenses, which constituted 55.6% of the total licenses. This was followed by humidity-controlled warehouses with 2,115 licenses, accounting for 17% of the total licenses, and refrigerated warehouses with 2,006 licenses, making up 16% of the total licenses.

In 2023, the number of valid licenses for good transport (activities) reached 7,963 licenses, where Riyadh Region had the highest number of active licenses at 1,996.

According to the data for 2023, the total number of sales outlets of postal service exceeded 1,300. The number of cargos reached over 140 million, with an average delivery time of 2.45 days.

As for the total number of customs clearance activity licenses valid for 2023, they amounted to 170 licenses. Customs authority licenses were the highest in the number of licenses valid for 2023, with 57 licenses, followed by air ports licenses with 47 licenses.

Saudi Crown Prince Mohammed bin Salman bin Abdulaziz, who is also Chairman of the Supreme Committee for Transport and Logistics, launched in 2023 the Master Plan for Logistics Centers, which aims to develop the infrastructure of the Kingdom’s logistical sector, diversify the local economy, and enhance Saudi Arabia's status as a leading investment destination and a global logistical hub.