Tamkeen Real Estate Investment Company launched last Wednesday in Al Khobar the first Saudi Homes Initiative as the first initiative provided by the private sector to adopt local content in the real estate development sector and the production of housing units.
On this occasion, Engineer Hamed bin Hamri, owner of the initiative and president of the company, stressed that the main objective of the initiative is to keep pace with the aspirations of the wise leadership and work towards achieving the requirements of the Kingdom's Vision 2030, which aims to enhance Saudi content in all fields, so we decided through the initiative to invite all developers to adopt high-quality national industries in all their projects as a national step that maximizes the added value they provide.
Hamri added that the initiative is the first private sector initiative to adopt local content in the real estate development sector and the production of housing units.
Bin Hamri added that the initiative adopted by Tamkeen is witnessing the launch of work to implement the first housing unit with Saudi content 100%, which is expected to be ready within a period not exceeding 90 days by relying on Saudi content in all details of the production process, which includes management and supervision of the implementation stages in addition to structural and interior designs, materials used, and all high-quality national construction and finishing materials, to create Saudi homes and housing units with Saudi identity and content, characterized by quality, efficiency and appropriate cost.
Bin Hamri stressed that the initiative invites all developers to adopt high-quality national industries in all their projects as it is a national step that maximizes the added value they provide. Bin Hamri emphasized that his company will start implementing the first phase of an ambitious plan within the Saudi Homes Initiative by working to produce about 3200 housing units in the cities of Riyadh, Khobar and Dammam, distributed between apartments, townhouses and luxury villas.
The ceremony, which was held at the Meridian Al Khobar Hotel, began with a speech by Tamkeen Chairman Engineer Ihsan Abdul Jawad, who pointed out that the launch of the Saudi Homes Initiative aims to keep pace with the Kingdom's Vision 2030 in the field of promoting local content, through which Tamkeen offers housing units produced with local content and industries 100% in addition to relying on the Saudi human element in all possible work elements, while maintaining the values that characterize the company since its establishment 10 years ago, which focuses on quality in all product details and maintaining appropriate prices.
During the ceremony, Dr. Ihsan Abdul Jawad presented Tamkeen's CEO and Chairman of the Board of Directors, Dr. Ihsan Abdul Jawad, with a presentation of the company. <During the ceremony, Dr. Abdulkarim Al-Huwaish, Associate Professor at the Faculty of Architecture and Planning at Imam Abdulrahman Al-Faisal University in Dammam, presented a study entitled "The impact of implementing one million housing units on the Saudi economy within Vision 2030" in which he explained that an approach of this kind will pump about 128 billion riyals within five years and generate annually about 512 thousand job opportunities in the construction sector and its affiliated activities. It will inject about 48 billion riyals annually into the Saudi economy during the post-implementation period. The ceremony also witnessed a live broadcast from the project site to start the construction of the first housing unit with Saudi content, which will be characterized by designs inspired by the architectural heritage of the Kingdom's regions and will be smart, energy-efficient and water-saving homes.
The ceremony also witnessed a live broadcast from the project site to start the construction of the first housing unit with Saudi content.
