According to Finance Minister Mohammed Al-Jadaan, the directions of the Crown Prince and Prime Minister Mohammed bin Salman represent the leadership’s priority in giving citizens suitable housing and a decent life.
“The Crown Prince’s directives confirm the government’s ability to use the tools available to it to bring back balance to the real estate market, whether through regulations, policies, or procedures, to enhance the supply of land and residential and commercial properties to achieve economic growth and create more jobs,” Al-Jadaan described in an interview with Al-Ekhbariya channel.
According to the minister, a balanced real estate market helps reduce the gap between supply and demand and curb irrational price hikes. “The initial goal of the directives that were issued was the citizen, especially the most vulnerable individuals, and the implementation of measures to prevent the transfer of assistance to unworthy groups. He also listed ways to ease the restrictions in northern Riyadh and improve the real estate supply immediately.
Whether through changes to the Law of White Land Tax or through directives issued to establish controls for the relationship between landlords and tenants to protect their rights, Al-Jadaan stressed that the leadership’s directives offered solutions to ensure continued supply in the medium and long term.
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