Dr. Shwaish bin Saud Al-Duwaihi, Minister of Housing, disclosed during a symposium in Dammam today that his ministry is about to issue two important initiatives, namely, the mechanism to determine who deserves a residential plot and a Renting network. Casting more light on the two projects while speaking at a symposium on "Housing and Real Estate Financing", Al-Duwaihi said the mechanism will put the provisions for who is eligible to obtain a soft-loan ready-made residential product through a transparent and balanced standard that secures justice and fairness among all segments of citizens. He also told the event, organized by the Eastern Region chamber of Commerce and Industry, that the Renting network aims at organizing and developing the house renting sector in Saudi Arabia in a way that guarantees the right of both the tenant and owner of the real estate so that the lessee reaches his choice easily through an electronic platform that embodies a number of services, including contract notarization, electronic payment etc.
