In the second phase, the Ministry of Housing invited real estate developers who are willing to implement housing projects on the Ministry of Housing land in several cities (Medina, Jeddah, Dammam, Qatif) to submit their offers to design, market and build housing units within multi-storey residential buildings.
Ministry of Housing plans to market half of the number of housing units (apartments) before receiving the land, and market the other half after two months of receipt. In the same direction, the Ministry of Housing, within the partnership program with the private sector (real estate developers), intends to change a number of previously announced requirements, and the new changes include the four cities and are represented in reducing the maintenance years from ten to five years, rescheduling financial payments to developers, and limiting the external parking for residential buildings to be suitable for the number of apartments... These amendments, which are expected to be issued an official decision in the coming days, come as a result of the remaining number of total residential apartments (26 thousand residential apartments) and no company applied for them.
These amendments come as a result of the number of the total number of residential apartments (26 thousand residential apartments) that have not been submitted by a company.
