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Rents likely to rise in Saudi, says official
- Saudi Arabia: Thursday, December 31 - 2009 at 10:59
The director of Saudi Arabia's general housing authority has said that the kingdom is expected to see a further rise in residential rents next year despite government plans to alleviate a chronic housing shortage in the country, the National has reported. Rents in the kingdom have already risen by more than 14% in the year to last month, data from the official statistics agency showed. The government plans to build 8,143 housing units in 16 cities in a bid to bridge the gap between constrained supply and ever-increasing demand for accommodation, Shwaish Aldhwaihi said.
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StaffThursday, December 31 - 2009 at 10:59 UAE local time (GMT+4)
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