By: Aseel bin Taleb
Riyadh – Mubasher: Housing demand in Saudi Arabia is nearing 1.5 million residential units, many of which have joint ownership and will be subject to the new homeowners’ association (HOA) regulation, said Mohamed Al-Moamer, advisor to the housing minister.
The Housing Ministry is currently conducting a comprehensive review of the HOA system and its executive regulations to be in-line with the ministry’s visions and expectations, which aim to bolster the market through partnerships with the private sector, the top official told Mubasher on Thursday.
The ministry seeks to enable private firms to manage utilities, he said, adding that training programmes will be created for this purpose, and which will create new job opportunities for Saudi youth.
