Saudi Housing Ministry has issued a new residential project of 5,000 housing units in the Eastern Port of Dammam, according to a news report published by Aleqtisadia.
The ministry invited national developers to take part in the project by sending their bids.
The project is the second of its kind to be launched lately following a 4,800-apartment project in Dammam and Qatif.
The newspaper said that both projects are intended to address the critical housing crisis in the area. The problem is primarily attributed to the shortage of supply and the prices.
The new project will be launched by late 2017 with an estimated total cost of 25 billion riyals. It will be fully completed within 20 months.