The Ministry of Housing has signed agreements with 3 Chinese companies specialized in real estate development to establish housing units in different regions of the Kingdom, with a total value of $ 2.7 billion, under which housing projects will be implemented on the ministry's lands, on an area of about 10 million square meters, with a timetable not exceeding six years, and through this partnership will create job opportunities for Saudis about 4 thousand job opportunities.

The first agreement was signed with a consortium of three Chinese companies represented by Power China International Group Limited to build 17,000 housing units representing the first phase of the “Dahiyat Al-Asfar” project in Al-Ahsa.

Housing Minister Majid Al-Haqeel confirmed in statements on the sidelines of the Future Investment Initiative that the first agreement was signed with a consortium of three Chinese companies represented by Power China International Group Limited. The Minister of Housing explained that the ministry has started the basic preparation and plans for the project, noting that the final approvals will be approved soon.

He added that the second agreement is for the construction of 17,000 housing units in Al-Asfar suburb in Al-Ahsa. <He added that the second agreement was signed with Katerra, a company owned by Softbank, which has modern technologies, indicating that the number of housing units that will be completed and the value of investments for the agreement will be announced later. <Al-Hogail pointed out that the third agreement was signed with “Sany-Amiriya”, a Chinese-Saudi alliance to start implementing 9658 housing units in the cities of Jeddah and Dammam, as part of 3 housing projects on the lands of the Ministry of Housing under the name “Sunset Hills”, with an investment volume of about 1.2 billion dollars. The first project is located in the Prince Fawaz neighborhood in Jeddah and aims to provide 6512 housing units consisting of apartments, and the other two projects in the city of Dammam, providing 1632 villas and 1514 apartments.

The first project is located in the Prince Fawaz neighborhood in Jeddah, and aims to provide 6512 housing units consisting of apartments.

The company will start implementing its projects next month, while the first phase of housing units will be delivered during 2020, and these three projects are among the projects announced within the “Residential” program in partnership with the private sector.