Thursday , June 17 2021

"Residential" sign 5 agreements to build more than 19 thousand housing units



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In 4 cities


SPA – Harmony:

The Ministry of Housing, represented by the program "Housing" signed five agreements with 4 real estate development companies to create more than 19,000 housing units in each (Riyadh, Edde, Buraidah, Khobar) beneficiaries of the program "Residential" , Along with the announcement of the 11th chapter of the program's beneficiaries on Thursday.
This is an extension of the previous agreements signed by the Ministry with a number of qualified developers to create thousands of housing units in various parts of the kingdom. To date, 63 projects have been invested, including 100 thousand housing units under construction, including villas, apartments and residential homes at prices ranging from 250 thousand apartments, 750 Thousand riyals, while witnessing an increasing number of beneficiaries to keep.
The agreements were signed by Minister of Housing and Construction Mohammed bin Saleh Al-Bitti and several officials at the Ministry of Housing and the Land Development Fund.
The number of housing units in the first project (Morway), held on land owned by the private sector about 10 thousand housing units, while the second project (Tanal), held on land in Riyadh, owned by the private sector on 1008 housing units, Land in the city of Al-Khobar, owned by the private sector in 273 housing units, while the fourth project (Kasim orchards), held on land in the city of Buraidah owned by the private sector on 78 housing units, and the fifth (Pearl Abhar) De, private housing on 8000 units, bringing the total housing units 19359 units (villas and townhouses) under construction "sell on the map."
The Housing Ministry emphasized its willingness to cooperate with real estate developers who are prepared to contribute to the pumping of additional housing units and to support the supply of the housing market, thereby ensuring the competitiveness of the companies to the satisfaction of the citizens and meeting their wishes according to the local market.
The firm explained that the real estate developers who signed with them are contributing with the Ministry of Civil Service to provide an adequate residential environment at the price level and specifications, while providing all the guarantees to the beneficiaries. These projects will be implemented and delivered to the beneficiaries within a period not exceeding three years from the date of signing the contracts between the developers and the beneficiaries , Stressing that these residential projects are combined services and public facilities, making it a model of residential complexes, including sites dedicated to mosques, parks and green areas, and sites devoted to government agencies.


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