Saudi Arabia is partnering with the private sector in efforts to build a housing project worthy of $ 800 million, reported Arabian Business.
The kingdom will urge investors to contribute to the project by either build-operate-transfer (BOT) or through public- private partnerships (PPP).
The Saudi government and the Ministry of Housing and charities will be dedicating units at this housing project to widows and orphans.
The funding process hasn’t been detailed, but if they chose the BOT system, then investors are expected to fund construction and receive financial returns from the sale or rent of the new homes.
The country can’t but to attract investors in to supporting such project due to the lower oil prices, stated Arab News.