Image via SPA
This week, Saudi Arabia’s Building Technology Stimulus Program (BTSP), which falls under the Ministry of Housing, announced an outstanding feat: it built a house made of concrete in just 48 hours. According to Saudi Gazette, the successful and rather swift construction of the structure was made possible through the use of modular or precast concrete. The method used to construct the home is reported to be part of the BTSP’s plan to accelerate the process of building and providing high-quality, affordable, and sustainable homes for Saudi Arabians.
The news site reported that Minister of Housing Majed Al-Hoqail conducted an inspection tour of the structure and the site it was built on earlier this week. The Minister took the opportunity to highlight that Saudi Arabia’s Eskan Program is continuing its key partnerships with the private sector in order to raise the percentage of Saudis who own houses.
Minister of Housing Majed Al-Hoqail
Over the last couple of years, Saudi Arabia has been working on implementing Vision 2030, an ambitious blueprint comprising the country’s long-term goals, many of which aim to reduce the Kingdom’s dependence on oil, diversify its economy, and develop public service sectors. As part of Vision 2030, Saudi Arabia’s Ministry of Housing has been working to increase the ownership rate in the country by at least 70 percent.
In line with its objectives, the Ministry announced last month in early November that it had successfully built the first house using 3D printing technology in the Middle East. The structure, which is located on the Ministry’s land west of King Khalid International Airport in Riyadh, was made possible by Dutch company Cybe.
In addition to steps being taken to reduce the costs of collection, transport, and construction, as well as to provide eco-friendly methods and bolster the sector as a whole through research, experimentation, and new technologies, Saudi Arabia announced earlier this week a program designed to also increase home ownership across the Kingdom. According to Arabian Business, Saudi Real Estate Refinance Co, a unit of the country’s sovereign wealth fund, has now set up a SR11 billion ($2.93 billion) Islamic bond program to increase liquidity in the mortgage market.