Yesterday, Housing Minister Majid Al-Hogail handed over the keys to 200 housing units to beneficiaries of the “Sakani” program as part of the ministry’s project in partnership with King Abdullah Economic City. Al-Hogail witnessed the signing of a memorandum of understanding between the National Housing Company and King Abdullah Economic City to provide 8,000 additional housing units in the Al-Shorouq neighborhood, to be allocated in phases under the “Sakani” program. During the handover ceremony, the social center in Al-Waha neighborhood was also inaugurated.
His Excellency explained that “The strategic partnership between the Ministry of Housing and King Abdullah Economic City embodies the fruitful cooperation between the public and private sectors through the “Sakani” program, which aims to launch the largest number of housing projects to provide suitable housing units meeting the highest quality standards, as part of efforts to raise the homeownership rate among citizens to 60 % by 2020 and to 70% by 2030, in line with the objectives of the Housing Program, one of the programs under the Kingdom’s Vision 2030.
For his part, Fahad Al-Rashid, Managing Director and CEO of King Abdullah Economic City, expressed his deep pride in the continued collaboration with the Ministry of Housing, praising the trust the Ministry has placed in the economic city in terms of providing housing products for citizens and offering solutions tailored to different segments of society. He explained that the Al-Shurooq residential neighborhood is one of a kind, and was designed to meet the needs of young people and middle-income earners, who make up about 70% of the Kingdom’s population.
On the sidelines of the visit and the handover ceremony, Al-Rashid announced the start of development on 1,800 housing units in the second phase of the Al-Shorouk neighborhood, given the high demand from citizens following the handover of 1,440 units in the first phase by the Economic City.
The “Al-Shorouk” neighborhood is a residential area designed for families and individuals seeking homes that offer a modern lifestyle at affordable prices accessible to all, with a variety of unit types available. The neighborhood is also distinguished by its proximity to the Industrial Valley, which is home to 100 local and international industrial companies—a location that will benefit homeowners through the growing job opportunities available there.
Engineer Luay Bafqih, CEO of the Quality of Life Program, emphasized that the collaboration between the Ministry of Housing and King Abdullah Economic City serves as a model to be emulated in order to continue improving the quality of life across various regions of the Kingdom, noting that the opening of the social center in Al-Waha neighborhood is one of the most important factors contributing to improving residents“ quality of life, especially since it offers a modern lifestyle within a quiet, safe, and vibrant residential environment, in addition to its advanced infrastructure, parks, and green spaces that allow residents to engage in various sports and social activities—which will directly contribute to achieving the Sustainable Development Goals.
The Economic City is committed to supporting all of its coastal neighborhoods with a range of vital and social services and facilities that meet international standards, including a diverse array of restaurants, shops, healthcare services, security and safety measures, mosques, parks, and schools. It also features a range of state-of-the-art sports and recreational facilities that have won prestigious international awards, such as the ”Royal Greens“ International Golf Club, the ”Esmeralda“ Sports Complex, the ”Juman“ Family Park and Open-Air Theater, the Juman Karting Track, the ”Al-Bilsan Marina“ Yacht and Water Sports Club, and the La Laguna Motor Racing Circuit, among others.
