Not everyone is a billionaire: Saudi crown prince funds major housing initiative

Saudi Crown Prince Mohammed bin Salman (MBS) announced a $266 million personal donation on Monday to support housing projects for Saudi citizens in need.

The donation, directed to the National Development Housing Foundation, aims to assist low-income families in achieving home ownership, highlighting that in Saudi Arabia, not all citizens enjoy the vast wealth often associated with the Kingdom’s image.

According to the Saudi Press Agency, the crown prince emphasized the importance of providing a dignified life for all citizens and supporting initiatives that expand access to housing across the country.

He has mandated that the projects funded by this donation be completed within 12 months and exclusively implemented by national companies. Authorities are required to submit monthly progress reports to ensure transparency, accountability, and the timely delivery of all housing units.

This initiative reflects ongoing efforts to address economic inequalities within Saudi society and provide tangible support to those most in need.