Saudi Arabia’s shortage of adequate housing for its growing population is a result of “bad planning” and the absence of legislation that regulates and paves the way for mortgage financing, Prince Alwaleed said.
“I think there were several reasons [for the housing crisis in the kingdom],” Alwaleed who is a nephew of King Abdullah of Saudi Arabia, said when asked by a group of hosts in an three-hour interview on his Rotana entertainment channel about his views on the housing shortage.
“The first was bad planning, let’s be honest…there was bad planning in the past,” he said.“However, King Abdullah and his leadership diagnosed the situation and tried to take quick and effective measures.
Read more: http://www.arabianbusiness.com/alwaleed-blames-bad-planning-for-saudi-housing-crisis-496546.html
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