(MENAFN) Saudi Real Estate Development Fund's director general, Muhammad al-Abdani, stated that as soon as the fund endorses new loans worth USD1.3 billion, the Kingdom will construct over 12,400 houses, reported Arabian Business.
Al-Abdani said that the country aims to spend USD67 billion on new houses for Saudi citizens in various parts of the Gulf nation.
According to Jones Lang LaSalle, the world's largest oil exporter built 6,000 new homes in Riyadh in 2012's third quarter, and by 2015, the city will add an additional 100,000 units.
During the current year, the Arab world's biggest economy will invest USD219 billion in education, healthcare, social benefits and infrastructure projects.
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