The Riyadh Housing Cooperative Association announced a preliminary agreement with the Ministry of Housing to construct 1,000 housing units, fully finished, to be distributed to eligible citizens through the Riyadh Housing Cooperative Association, in cooperation with the Ministry, which will assist in allocating land to complete the project with the participation of the private sector.
This announcement was made during the Society’s annual meeting, which was recently held under the chairmanship of Dr. Abdullah bin Halawi Al-Shadadi and attended by members of the Board of Directors, a number of shareholders, and representatives from the Ministry of Labor and Social Development. The meeting took place at the main headquarters of the Chambers of Commerce in Riyadh, on Al-Dabab Street, on the first floor in the Sheikh Abdul Al-Ziz Al-Muqairn.
At the beginning of the meeting, His Excellency Dr. Abdullah Al-Shadadi, Chairman of the Board of Directors, welcomed the attending members of the Association and the representatives of the Ministry of Labor and Social Development,He then provided an overview of the association, its founding, its objectives, and the projects it will undertake, noting the support provided by the Ministry of Labor and Social Development to the association in the form of grants,He also mentioned his meeting with His Highness the Governor of the Riyadh Region at the library and the Governor’s support and backing of the Association by accepting the position of Honorary President, His Excellency also mentioned the association’s meetings with His Excellency the Minister of Housing and the Minister of Labor and Social Development, and affirmed that the association is making steady progress toward achieving its goals and implementing its projects.
The Chairman of the Board then expressed his thanks and appreciation to His Royal Highness Prince Faisal bin Bandar bin Abdulaziz Al Saud for his support, backing, and generous stance toward the Association, He also thanked His Excellency Dr. Majid bin Abdullah bin Hamad Al-Hogail, Minister of Housing, and His Excellency Dr. Majid bin Abdullah Al-Qasabi, former Minister of Labor and Social Development, for their support of the Association and their encouragement of its activities.
This was followed by the presentation of an administrative and financial report on the Society’s achievements during the previous period, as well as a financial statement detailing revenues, expenses, member contributions, and the Association’s bank balance. The meeting also reviewed a draft of the Association’s administrative regulations as a proposal for organizing its operations.
It is worth noting that the meeting discussed the technical studies for the 1,000-unit housing project, which focused on the target groups eligible for the housing units and the appropriate environment for them.
The association also entered into another agreement with the Ministry of Labor and Social Development to participate in a long-term project for low-cost housing units consisting of single-story structures of various sizes, featuring simplified models and designs using a block construction system, which can be detached or attached. This project, carried out in cooperation with the Ministry of Labor and Social Development, provides the necessary land and funding for its implementation.
This was followed by the approval of the Association’s budget and financial statements for the year 1437 AH. In conclusion, the Council Chair thanked the Ministry’s representatives and the members in attendance and urged everyone to work together to support the Association by identifying and securing opportunities that benefit the Association andits residents,
A statement was also presented regarding the subsidies provided by the Ministry of Labor and Social Development to the association that are available for use, The meeting then addressed the Association’s first housing project, which is self-financed by the Association’s shareholders. It consists of a residential building in the Al-Narges neighborhood in northern Riyadh, with an area of 900 square meters, three and a half stories, and 11 residential apartments, which were allocated to the association’s contributing members during the meeting.
