Engineer Hamed bin Hamri, CEO of Tamkeen Real Estate Investment and Development Company, Chairman of the Real Estate and Urban Development Committee at the Eastern Chamber, explained that the «Saudi Homes» initiative launched by Tamkeen is summarized in the production of houses and residential units with local content and Saudi expertise 100%, indicating that the company succeeded in launching the initiative and implementing the first Saudi house within only 70 days by relying on national cadres in all stages of production.
Bin Hamri revealed, in an interview with Amlak Real Estate Newspaper, recently, Bin Hamri revealed that they are seeking to implement the initiative by producing 3196 different housing units around the Kingdom, the details of which will be announced soon, indicating that the company's strategic goal is to produce one million housing units within 10 years; by generalizing the initiative throughout the Kingdom until it finds the necessary resonance with the concerned government agencies and developers and is adopted through the housing policy in the Kingdom.
<p class="p3About the expected results of the Saudi Homes Initiative, Bin Hamri emphasized that studies indicate that this approach will inject about 128 billion riyals within five years and will generate annually about 512 thousand job opportunities in the construction sector and related activities, and will inject about 48 billion riyals annually into the Saudi economy during the post-implementation period.
About the expected results of the Saudi Homes Initiative, Bin Hamri emphasized that studies indicate that this approach will pump about 128 billion riyals within five years and generate annually about 512 thousand job opportunities
It is worth mentioning that the Saudi Homes Initiative was launched from a national principle in line with the aspirations of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz and His Royal Highness Crown Prince Mohammed bin Salman, which is summarized in the Kingdom's Vision 2030, one of the most important objectives of which is to increase local content in all industries and activities.
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