The CEO of Anan Real Estate Company Bandar Mohammed Al-Duhayek signed 5 agreements between a number of companies and financial and investment funds to develop 4 residential schemes on a total area of up to 3.390,000 m2, and the construction of 6265 housing units in Makkah, Jeddah and Unaiza Governorate, in the presence of the Undersecretary of the Ministry of Municipal and Rural Affairs and Housing to stimulate housing supply and real estate development, Abdulrahman bin Abdullah Al-Tawil.
<The agreements signed by Al-Dahik included two agreements with the Royal Investment Fund, an agreement with the Itqan Capital Fund, in addition to two agreements with two providers of modern building technologies, namely: (Carrier Buildings for Industry and Kerr International for Industry), with the aim of enhancing the housing supply in the Kingdom's cities and governorates.
Abdulrahman bin Abdullah Al-Tawil, Undersecretary of the Ministry of Municipal and Rural Affairs and Housing, said that the agreements come within the framework of the Ministry's keenness to strengthen partnerships with real estate developers, achieve integration with private sector companies to drive growth in the real estate sector, and seek to achieve the goals of the Housing Program - one of the programs of Saudi Vision 2030 - by raising the ownership rate for Saudi families to 70% by 2030.
Tawil said that the agreements come within the framework of the Ministry's keenness to strengthen partnerships with real estate developers and achieve integration with private sector companies to drive growth in the real estate sector. Al-Tawil explained that the residential projects will contribute to increasing the housing supply in a number of cities and governorates of the Kingdom, pointing out that the ministry seeks to create a stimulating investment environment that contributes to pumping more residential projects, finding the best solutions and enablers to improve the output of real estate projects, and raising the quality of residential products in the real estate development sector.
It is noteworthy that the residential projects will contribute to the growth of the real estate sector. <It is noteworthy that these agreements target the development of 4 residential schemes, namely: (Rawabi Al Asila in Makkah, Al Shorouk in Jeddah, and Hattin and Al Reem in Unaiza Governorate in Qassim).
These agreements target the development of 4 residential schemes.
