With an investment value of 1.2 billion US dollars, SANY Ameriya, a Saudi-Chinese alliance, will implement 9658 housing units in the cities of Jeddah and Dammam, after signing an agreement with the Ministry of Housing and the National Housing Company on the sidelines of the “Future Investment Initiative” held in Riyadh recently.
Under this agreement, SANY Ameriya, formed by an alliance between SANY China and Ameriya Real Estate Investment Company, will start implementing 3 residential projects on the lands of the Ministry of Housing under the name “Sunset Hills”, the first in the Prince Fawaz neighborhood in Jeddah, which aims to provide 6512 housing units, and the other two projects in the city of Dammam, providing 1632 villas and 1514 apartments.
The other two projects are in Dammam, providing 1632 villas and 1514 apartments. The company is likely to 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 under the “Residential” program in partnership with the private sector.
On this occasion, the Chairman of the Board of Directors of Sani Al Ameriya Company, Bandar bin Mohammed Al Ameri, explained that under this agreement, the implementation of the three projects will start and deliver them within the specified timetable, with implementation to begin on November 1, and the delivery of the first phase of residential units during 2020.
He added that there are a number of projects announced under the “Residential” program in partnership with the private sector. He added that there are a number of objectives that will be achieved through this alliance, including the localization of technology by establishing two factories in Jeddah and Dammam, in addition to establishing factories for construction equipment to secure the needs of the local market and export to GCC countries and the Middle East, stressing that one of the priorities of “SANY Ameria” is to train Saudi youth in the institutes of SANY International Group Company in China and employ them in our factories and projects in the Kingdom during the next three years.
In turn, SANY General Manager Hejin Gao stressed that the Kingdom's environment for investment in the real estate sector is attractive and with the state's orientation to activate partnership with the private sector and stimulate foreign investment in this sector, we signed an agreement with the Ministry of Housing to meet the high demand for housing in the Kingdom to build thousands of housing units with high quality, taking into account the provision of a suitable housing environment.
He pointed out that SANY Amiriya Company is among the priorities of SANY International Group Company in China. He pointed out that the Chinese company SANY has a number of projects in various countries of the world, including a contract to build 50,000 units in Malaysia within five years at a rate of 10,000 units per year, pointing out that they aim to increase or double this number in Saudi Arabia, due to the attractive environment and the great stimulus from the Ministry of Housing, stressing that the Chinese company “SANY” has modern German construction techniques of very high quality.
The Chinese company "SANY" has modern German construction techniques of very high quality.
