“Housing” calls for the creation of real estate development companies in partnership with the state

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The Ministry of Housing has proposed establishing a flexible mechanism to authorize international companies with global capabilities and qualifications to participate in the implementation of housing projects, facilitate the procedures for their classification and exempt them from some restrictions, and establish a mechanism to work with real estate developers to enter into a partnership to provide housing for deserving citizens. The Ministry pointed out the need to establish real estate development companies in partnership between the state and foreign developers and investors specialized in this aspect and offered for public contribution, and appealed to the “Housing” to support its efforts in utilizing white lands as stated in the national housing strategy in the Kingdom.

Ministry of Housing <The Ministry had expressed its dissatisfaction with the slowness of some relevant government agencies in implementing the requirements of the royal order issued in Jumada Al-Thani 1434 and handing over the approved municipal grant schemes of both types - those that have not been distributed to citizens and others that have been partially distributed to them - and lands intended for housing, and in its annual report for the fiscal year 34-1435, it pointed out that it suffers from encroachments on housing projects and the intersection of some services with them and the existence of many claims on some other sites, in addition to the distance of many lands assigned to its projects from the urban area and services which reflects on the cost of connecting them to services and the lack of availability of tactics.