Saudi Crown Prince donates 1 billion riyals to support housing ownership
The donation on Monday came from his personal fund to the National Development Housing Foundation's Jood Eskan platform. It was ordered that the project should be completed within 12 months and implemented by national companies.
This reflects Prince Mohammed's ongoing commitment 'to ensuring a decent standard of living for all citizens', the official Saudi Press Agency reported.
It also underlines his 'dedication to the housing sector and his particular focus on supporting deserving families', added SPA.
He also directed authorities to submit monthly reports on the progress of home ownership in order to ensure that all housing units are completed within the one-year period, as well as for transparency and accountability.
Saudi Minister of Municipalities and Housing Majed Al Hogail thanked the Crown Prince for his generosity. 'A generous donation that embodies His Highness's awareness of the citizens' needs and his keenness to provide a dignified life and achieve social stability,' wrote Mr Al Hogail on X.
Jood Eskan also took to X to express gratitude for the donation, saying it reflected a 'deeply rooted approach to giving, and generous care for deserving families across various regions of the Kingdom'.
Last month, Prince Mohammed ordered measures aimed at stabilising the real estate sector, in response to rising land and rent prices in Riyadh.
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UAE cricket captain
Age: 31
Born: Sharjah
Role: Left-arm spinner
One-day internationals: 31 matches, 35 wickets, average 31.4, economy rate 3.95
T20 internationals: 41 matches, 29 wickets, average 30.3, economy rate 6.28
At a glance
Global events: Much of the UK's economic woes were blamed on 'increased global uncertainty', which can be interpreted as the economic impact of the Ukraine war and the uncertainty over Donald Trump's tariffs.
Growth forecasts: Cut for 2025 from 2 per cent to 1 per cent. The OBR watchdog also estimated inflation will average 3.2 per cent this year
Welfare: Universal credit health element cut by 50 per cent and frozen for new claimants, building on cuts to the disability and incapacity bill set out earlier this month
Spending cuts: Overall day-to day-spending across government cut by £6.1bn in 2029-30
Tax evasion: Steps to crack down on tax evasion to raise '£6.5bn per year' for the public purse
Defence: New high-tech weaponry, upgrading HM Naval Base in Portsmouth
Housing: Housebuilding to reach its highest in 40 years, with planning reforms helping generate an extra £3.4bn for public finances
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Mageed Yahia, director of WFP in UAE: Coronavirus knows no borders, and neither should the response
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5.45pm: Raging Torrent
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Bio:
Favourite Quote: Prophet Mohammad's quotes There is reward for kindness to every living thing and A good man treats women with honour
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