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Ministry of Housing to withdraw projects from defaulting contractors

Saudi Arabia - August 16, 2015
وزارة الإسكان السعودية

The Ministry of Housing branches made an intensified inspection and supervisory rounds on the housing projects where the Minister of Housing Majid Hugail has requested to speed up the work on these projects, both residential units and infrastructure.

This rounds come in response to the social pressure faced by the ministry due to the delay in the delivery of residential products to recipients, which include ready residential units from apartments, villas, lands and mortgage loans.

The Ministry is expected to put the contractors under scrutiny to know the reasons for the delay and then take all the necessary actions towards them, which include the withdrawal of projects from all defaulting contractors and especially the projects that have been in the implementation process for over three years now among many other penalties to be taken.

It is worth mentioning that the ministry has partnered with the private sector for the implementation of apartments as part of its plan to provide the maximum amount of residential products and it is also expected that this partnership will include villas in order to provide a great deal of real estate options.

 

Source: almrsd.co

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