Thursday, September 28, 2017

Saudi Arabia set to hand over 53,000 housing units

More than 53,000 residential units, including flats and villas, will be ready shortly for distribution in different parts of Saudi Arabia, said a report.

The housing units are being implemented with the support of the private sector following the demand and supply rule, reported The Saudi Gazette citing a senior housing ministry official.

"We don’t focus on any particular region and our projects cover all parts of the country," remarked Ahmed Mandoura, a senior official at the ministry in charge of partnership with the private sector.

"The housing units being implemented with the support of the private sector would be handed over to beneficiaries three years after signing the contracts," he noted.

Mandoura pointed out that the number of beneficiaries in the main cities of Riyadh, Jeddah and Dammam had reached nearly 300,000 with Riyadh having 143,000, Jeddah over 114,000 and Dammam 42,000, said the report.

"There are different products in these three cities including villas, town houses, and developed plots," he explained.

Mandoura disclosed the ministry’s plan to develop plots in new areas in the three cities to establish housing projects in cooperation with the private sector.

"The agency for technical affairs at the ministry is currently finalizing five projects. They are the Riyadh airport project, Dammam North, Jeddah Airport, Jeddah Housing and Prince Fawaz project," he added.

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