Monday , May 10 2021

"Residencial" signs 5 agreements to build more than 19 thousand housing units

The Ministry of Housing, represented by "Housing", has signed five agreements with 4 real estate development companies to create more than 19,000 housing units in Riyadh, Jeddah, Buraida and Al Khobar for beneficiaries of the "Residential" program. From the program on Thursday.

It is an extension of previous agreements signed by the Ministry with a series of qualified developers to create thousands of residential units in different regions of the Kingdom. So far, 63 projects have been launched, offering about 100 thousand housing units under construction, including villas, houses and houses at prices ranging from 250 thousand to 750 thousand riyals, while witnessing a growing number of beneficiaries to book.

The agreements were signed in the presence of the Minister of Housing of EE. UU. Majid bin Abdullah Al-Haqail, CEO of the National Housing Company Mohammed bin Saleh Al-Bati and several officials of the Ministry of Housing and Real Estate Development Fund.

The number of housing units in the first project (Murooj Jeddah), which is carried out on private property of the private sector, is 10 thousand housing units, while the second project (Tnal), which is carried out on land in the city of Riyadh, property of the private sector in 1008 housing units, which is carried out on land in the city of Al Khobar, private sector ownership in 273 housing units, while the fourth project (Qassim gardens), which is carried out on land in the city of Buraidah, property of the private sector in 76 housing units, and the fifth (Pearl of Abhar), which is carried out on land in Jeddah, owned by the Private housing sector in 8000 units, for total housing units 19359 h Of the type (villas and houses) under construction " sell on the map. "

The Ministry of Housing has highlighted its passion for fruitful collaboration with qualified real estate developers to help pump more housing units and support the supply of the real estate market, thus guaranteeing the competitiveness of companies to win the satisfaction of citizens and satisfy their wishes to meet the local market

The ministry explained that the developers signed with them contribute to the ministry at the service of citizens to provide a suitable residential environment to the price and specifications, with the provision of all guarantees to the beneficiaries, where these projects will be implemented and delivered to the beneficiaries within a period not exceeding Three years from the date of signing of the contracts Between the developers and the beneficiaries, emphasizing that these residential projects integrate services and public facilities, which makes it a model of residential complexes, including sites dedicated to mosques, parks and green areas and dedicated sites to government agencies.

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