The Saudi Arabian Ministry of Housing (MoH) has signed cooperation agreements with local developers to create more than 22 thousand housing units for those eligible for residential support.
The units will be constructed on privately owned land in Makkah, Madinah, and Jizan.
The agreement was attended by Majid Hugail, Minister of Housing, and Dr. Hani Abu Ras, Mayor of Jeddah and Chairman of the Board of Directors of Jeddah Development and Urban Development.
These agreements come in the framework of the partnership program with the private sector that was approved by the Cabinet last week.
The cooperation of MoH with developers will secure thousands of housing units of varying sizes fit for all citizens.
The unit prices range between 250 and 650 thousand riyals across all regions of the Kingdom and will be delivered within 36 months from the date of sale.
They will present a variety of options with high quality and suitable prices.
The Ministry expressed its keenness on fruitful cooperation with real estate developers who are qualified to contribute to pumping more residential units in the housing market.
Which ensures that companies compete to win the satisfaction of citizens and meet their needs according to the local market.
It will also guarantee the provision of post-housing services such as the ongoing maintenance of housing units.
The Ministry said that “the real estate developers who have been signed are working alongside the Ministry to provide citizens with an appropriate residential environment in terms of pricing and specifications.”