Saudi Crown Prince Mohammed bin Salman pledged 1 billion Saudi riyals ($266 million) to support housing ownership projects for eligible beneficiaries and families in need.
The donation on Monday 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.