With the goal of building 20,000 housing units, Wathra Real Estate Development Company signed a partnership agreement with the U.S. company “Techni Structura,” which specializes in housing development and construction. The alliance includes an integrated network of real estate development companies and national contracting firms, in addition to a number of American companies.

The alliance is part of the government’s strategic initiatives to strengthen partnerships between domestic and foreign companies, with the aim of bridging the gap between supply and massive demand, and to increase the supply of affordable housing units. The alliance plans to develop and build a large number of housing units annually, based on a plan determined by current and future demand. According to sources, the alliance has the capacity to do so.

Abdulrahman Al-Muheidib, CEO of Wathra Real Estate Development, said: The team working on the partnership between “Wathra Real Estate Development” and ”Tecni Struttura,” in collaboration with a group of local banks, is currently focused on finalizing the designs, timelines, implementation plans, and financing for a number of projects in various regions of the Kingdom, such as Riyadh, Jeddah, and the Eastern Province, totaling 20,000 residential units to be launched.