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Saudi Arabia to require SR1.3trn in housing investment by 2020
- Saudi Arabia: Tuesday, December 04 - 2012 at 05:47
According to a report by National Commercial Bank (NCB), the Saudi housing market is expected to expand by 2.4 million units during the next 10 years, with annual demand rising from 195,000 units in 2011 to 264,000 units by 2020, Arab News has reported. Based on market sources for the average housing unit cost of around SR540,000, total investment required will amount to SR1.3trn, in order to develop the 2.4 million new housing units, representing an average outlay of SR130bn per annum, the lender said.
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