In opening remarks at the first session of the Jeddah Economic Forum (JEF), Abdullah Sadiq Dahlan, member of the JEF’s organizing committee and chairman of the board of trustees at the University of Business and Technology, warned of an imminent threat of a housing crisis exploding in the Kingdom over the coming years in the absence of realistic housing plans.
Dahlan said that 37 percent of Saudis do not own houses and pay rent, while 30 percent live in inadequate housing facilities. He also pointed out that the Kingdom is in need of 350 million sq meters to accommodate a growing population with 67 percent of the population currently searching for affordable housing.
According to statistics presented by Dahlan, 85 percent of the Saudi population lives in major cities such as Riyadh, Jeddah and Dammam, with Jeddah listed as the city with the highest population density.
According to statistics presented by Dahlan, 85 percent of the Saudi population lives in major cities such as Riyadh, Jeddah and Dammam, with Jeddah listed as the city with the highest population density.
Read more: http://www.arabnews.com/news/445254
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