His Excellency the Deputy Minister of Municipal, Rural, and Housing Affairs, Engineer Abdullah Al-Badeer, affirmed during the inauguration of Restatex Jeddah Real Estate Exhibition that real estate development companies have distinguished themselves through clear project timelines and rapid completion, higher quality, and that this transition, still in its early stages, faces a number of challenges. Therefore, the Ministry took the initiative to become the primary enabler for real estate developers by creating a harmonious system where components support one another, launching the “Developer Capacity-Building Program” for this purpose; which led it to honor 46 real estate developers last month, including 15 new developers who transitioned from the contracting sector to real estate development, and 31 developers who have undergone the support and empowerment process.
Al-Badeer reported that the Ministry has successfully implemented numerous housing projects in collaboration with the private sector to increase the real estate supply across all regions and cities of the Kingdom, launching 142 projects currently under construction in partnership with the private sector,providing 140,000 units. In the Jeddah Governorate, there are ongoing projects to build more than 30,000 residential units, with a total value of 26 billion riyals, There are also future projects to build approximately 30,000 additional units distributed across various neighborhoods in the Jeddah Governorate.
He noted that the Ministry has implemented numerous developmental housing projects in Jeddah, including the construction of approximately 6,500 housing units, and that approximately 4,500 housing units will be built in the future as part of various projects in the Jeddah Governorate.
