“Municipal Affairs” in Arab: We aim to provide 140,000 new housing units in Riyadh within 3 years

The director of business development and projects for the Ministry of Municipal and Rural Affairs and Housing in Saudi Arabia, Iyad Atassi, announced the signing of agreements with Saudi banks to speed up the housing support process and facilitate home ownership for beneficiaries.

In an interview with Al Arabiya, Atassi indicated that 5 real estate funds worth 2 billion riyals have been launched, as well as signing 7 memoranda of understanding with a number of developers and financial agencies in order to pump more supply. real estate in the whole Kingdom.

And he indicated that the funds and agreements signed aim to provide more than 5,000 housing units, most in the city of Riyadh, and are a continuation of what had previously been pumped to the level of the capital, both by the executive arm of the ministry. (the National Housing Company) or through the private sector.

He continued: “We are talking about around 150,000 housing units distributed in various cities, including about 35,000 housing units in Riyadh, and 5,000 units have recently been launched in Riyadh, and another 5,000 units will be launched by the end of the year “.

Atassi revealed that 140,000 housing units will be pumped over the next two to three years in the capital, Riyadh, to meet the high level of demand.

He said: “The ministry is interested and eager to sign more agreements and partnerships with developers and financiers in order to provide residential services and various products that meet the wishes of citizens.”

Read More About: Business News

Follow AsumeTech on

More From Category

More Stories Today

Leave a Reply