In the framework of the partnership program with the private sector approved by the Council of Ministers according to its new mechanism recently, the Ministry of Housing signed an agreement with a national real estate development company to design and construct 5,000 housing units of various options in a number of cities and governorates of the Kingdom.
This step comes to reinforce the role of cooperation between the Ministry and qualified local and international real estate developers.
This step comes to strengthen the role of cooperation between the Ministry and qualified local and international real estate developers to contribute to pumping more housing units and support the supply in the housing market, thus contributing to the development of the housing sector to enable citizens to own appropriate housing that takes into account quality and price.
The Ministry explained in a press release today that the real estate developers who are being signed contribute with the Ministry in serving citizens by providing an appropriate housing environment at the level of price and specifications, pointing out that it established the Real Estate Developers Services Center "Completion" to overcome the difficulties that may face them and facilitate their procedures to implement more housing units in all regions of the Kingdom.
The ministry adopted within the criteria for selecting developers, the financial ability of companies, the availability of administrative and technical elements capable of managing projects and their size, and the ability to create housing products commensurate with the categories of applicants on the housing support portal "Iskan", confirming that it is familiar with global and local housing experiences, and is working on studying them and considering the possibility of benefiting from them in proportion to the nature of the local market, to create housing products with various prices commensurate with the ability of citizens, and create financing programs that are supported by the state, indicating that the ministry is signing more agreements with companies that provide housing units in all regions of the Kingdom of Saudi Arabia, in addition to the Ministry of Housing and Urban Development, in addition to the Ministry of Housing and Urban Development.
