A state official in Jeddah municipality mentioned that new housing plans in Jeddah were approved last year with cumulative area around 6.673 million square meters.
He added that this massive area is stretched on 10 different housing plans liable to establish 24858 housing units. The cumulative area of the 10 plans is enough to occupy around 136719 beneficiaries.
The largest plan is 1.399 million square meters including 533 housing units, 49 commercial units. This scheme is planned to establish 4968 other units in the near future to occupy 27324 people.
Khaled Bashwe’er, head of housing committee in Jeddah Chamber of Industry and Commerce mentioned that 50% of blank lands are starting their construction process due to the new blank lands fees decree said to be issued soon.
Khaled said also that approving more housing plans will contribute in prices reduction and properties market momentum.
On another hand, a Saudi investor and real estate developer mentioned that the approved housing plans are not enough by any mean, as they won’t quench the properties market need. He added also that Jeddah municipality needs to be more flexible and quicker in approving the housing plans as Jeddah contains a lot of blank lands liable for construction projects, especially in the northern and southern regions.