Saudi Arabia will allocate SR2 billion ($530 million) from its budget surplus to support housing projects, officials said.
Social Affairs Minister Abdulmohsen Al Akkas said areas with the greatest need would get priority in the government handout.
Saudi Arabia’s state revenues have soared in the last two years on the back of high oil prices.
Last year the world’s biggest oil exporter boasted a $26 billion surplus and one local bank has predicted the figure to double this year.
