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Eye of Riyadh
Business & Money | Sunday 5 July, 2015 10:39 am |

Alwaleed Philanthropies grants 10,000 housing units, 10,000 cars to citizens

As an expression of his gratitude to the Saudi nation and its people, Prince Alwaleed bin Talal announced the resumption of the two Alwaleed Philanthropic projects that consist of providing 10,000 housing units to Saudi citizens, which is part of his development housing initiative, in addition to granting Saudi nationals 10,000 cars, thereby, bringing the total number of beneficiaries among Saudi men and women to 100,000 in 10 years.
Affording a home is a major concern for most Saudi citizens nowadays. It has become a big burden weighing on the family’s budget, especially given that Saudi families are mostly young, small and with very limited means. According to the latest official population census of Saudi Arabia, the youth constitute the majority of the population 
In regard to the initiative of granting 10,000 cars, the Foundation believed that it should go to the families which have no transportation means, resorts to renting transportation services which places a costly burden on them. By providing a car and a house, those expenses would be spared and each family’s other disposable income would be increased. 
Hence, the Alwaleed philanthropies is carrying through with its past pledges of ensuring 10,000 housing units that would benefit 10,000 Saudi families, approximately 60,000 Saudi citizens since the average size of a family in Saudi Arabia is six. 
Hence, the housing units are being distributed on an average of 1,000 units per year to beneficiaries who do not qualify for housing under the Housing Ministry’s System. Alwaleed philanthropies plays a complementary role in relieving the burden of housing in Saudi Arabia and is not an alternative or a competitor to the government’s project, said a press release. It said that 1,240 housing units have already been distributed to a number of beneficiaries, encompassing 10,558 men and women according to the statistics gathered when distributing the units. 
The Foundation also plans to distribute 10,000 cars to eligible families at an average of 1,000 cars each year. The project will be carried out over 10 years. 
The conditions and mechanisms of distribution to eligible families will be available on the website of Alwaleed Philanthropies. The prince will be announcing the names of beneficiaries in due course.
It is to be noted that the two projects are not linked together, which means that the beneficiary of the first project will not necessarily benefit from the second project. This also does not mean that the beneficiary of the second project will not benefit from the first project. Each project is independent of the other and has its own conditions and mechanisms of distribution available on the Alwaleed Philanthropies website.
“What I possess is a gift from Allah. I was born and brought up in this dear country, the most precious place for me to give and share with its people. In whatever I do, I am thankful to and seek the countenance of Allah,” Prince Alwaleed said.
Alwaleed Philanthropies has been working for 35 years on launching humanitarian projects and supporting them in more than 92 countries. 
The Foundation works in cooperation with a large group of educational, governmental and charitable institutions with a view to eradicating poverty, empowering women and youth, developing communities, providing vital disaster relief and bringing cultures together through awareness and education.

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