Tuesday, 15 January 2013

Mr. Fahad Bin Abdullah Al Othaim, the CEO of Othaim Comoany for investment and realestate development has expressed his delight for the royal commands of the Custodian of the Two Holy Mosques, the king Abdullah Bin Abdul Aziz AL Saud, God save him, he pointed that these commands has covered all segment and entered joy to each and every home not excluding any young or adult.

He said that these royal commands by the king of humanity satisfy the needs of the sons and daughters of the kingdom directly and achieve their hopes and expectations for a decent life, also it opens up prospects for the promising future to check and confirm the continued development renaissance taking place in the Kingdom at all levels and thankfully.

Al Othaim indicates that the commands of the king of hearts are considered tidings of goodness and reflect the depth of the relation between the leader and his people, and also represents a new credit added to our beloved king's history that is rich with generosity, achievements , goodness and growth.

Al Othaim has talked about the commands that targeted real estate segment and which included adoption of 500 thousand housing units in all regions of the Kingdom at a cost up to 250 billion riyals, in addition to 500 million riyals for the renovation of mosques and 200 million to build a headquarter for the religious police , as well as raise the value of the upper limit of the housing loan to become 500 thousand riyals.

Othaim assured that these decisions carry abundant goodness for this sector and will give it a boost and will make a quantum leap in the housing development sector in particular, as these decisions will contribute in addressing the housing crisis drastically as well as decrease the number of Saudi tenants to below 20%.

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