Another aspect of Saudi Arabia’s social services network is providing housing for the country’s fast-growing, young population. The government has been active in both financing and constructing housing for low-income Saudis, public employees and students.
A particularly important policy has been to provide interest-free, easy-term loans for home construction to individuals and companies. The Real Estate Development Fund was established in 1975 for this purpose. Since then, it has financed tens of thousands of private homes, and provided millions of dollars to the private sector to build housing units, stores and office buildings.