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Development Housing

  • In line with the vision of 2030, the development housing initiative is integrated with the non-profit sector to allow increasing the contribution of the non-profit sector in the non-oil GDP from less than 1% up to 5%. Therefore, the government institutions should establish areas of cooperation with the non-profit sector and to qualify appropriate opportunities to achieve it.

    Since the Ministry of Housing is studying the establishment of investment fund comply with Sharia'a to fund the co-operative associations for housing in the form of Murabaha and through the issuance of deeds to fund projects for the establishment of housing units for the co-operative societies and put them to the subscription of funding agencies and individuals. While a series of studies applauded the economic profitability of investors in some successful experiences of housing cooperative societies and their return on competing investment, especially when the appropriate conditions are set out to ensure effective management and availability of regulations and legislations governing and regulating their work.