During the opening ceremony of the ministry's factory for furnished apartments in Jeddah, Housing Minister Dr. Essam Saeed said that there are 2500 apartments that will be put up for competition in Dammam in the coming weeks to be implemented within 20 months, and about the waiting lists in the Real Estate Development Fund, he pointed out that the regulation of housing support gives the borrower in the fund the option to remain in the waiting or switch to the housing support program, so it is a step in reducing the waiting lists, and about commercial banks, he confirmed that there is coordination with the Governor of the Arab Monetary Agency to conclude a memorandum of understanding between the Ministry of Housing and SAMA regarding financing by banks and now the subject is underway to have a strategy between the housing and the

Steps forward with developers

The ministry has engaged the private sector of real estate developers specialized in housing construction, and invited real estate developers who have completed housing projects, or under implementation, to apply to the Ministry of Housing to market them to citizens entitled to housing support, after being evaluated, in an important step that confirms the ministry's increased flexibility in dealing with the private sector as a partner in responsibility.

The Ministry recently introduced a new model of partnership with real estate developers that relies on marketing products “directly” to beneficiaries, the second after it introduced the first model of partnership that relies on the marketing of apartments by real estate development companies that were selected and built by them, this new movement in the direction of the Ministry of Housing comes in order to take advantage of the capabilities and capabilities of real estate development companies specialized in housing.

The new movement in the direction of the Ministry of Housing comes in order to benefit from the capabilities and capabilities of real estate development companies specialized in housing.

Conditions and limitations

In order to preserve the rights of citizens entitled to housing support, the ministry specified a number of requirements that the land on which the housing project is implemented must be owned by the developer, provided that the ministry itself will evaluate these projects whose owners apply after attaching an identification of the real estate developer «the owner of the project», documents supporting ownership “the deed”, and a detailed description of the project that has been submitted to the ministry.

Detailed description of the project that has been submitted to the ministry.