Developmental Housing | Ministry of Housing

Ministry of Housing

Sakani

التاريخ الهجري

Wednesday 8 Safar 1440 on October 17, 2018

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Programs and Initiatives

Development Housing is an initiative that integrates the non-profit sector with the vision of 2030 to increase the contribution of the non-profit sector in non-oil industry GDP from less than 1% to 5%, which requires government institutions to establish areas of cooperation with the non-profit sector by facilitating opportunities, and that what the Ministry of Housing strive to accomplish.
In the field of cooperative housing, we're examining the establishment of a Shariah-compliant investment fund to finance cooperative societies for housing in the form of Murabaha or issuing instruments to finance the construction of housing units, placing them to subscription to financial institutions and individuals. The success of these two options supports their economic feasibility for the investors. Therefore, studies indicate some success stories for cooperative societies for housing. That the return on supporting investment is competitive, especially if it has the appropriate circumstances to ensure managing it effectively, and having laws and regulations controlling and regulating its work.