Ministry of Municipal Affairs signs agreements for 4 housing schemes in Makkah, Qassim

Logo of Ministry of Municipal, Rural Affairs and Housing

The Ministry of Municipal, Rural Affairs and Housing announced signing five agreements with a number of financial and investment companies and funds, to develop four housing schemes over a total area of 3.39 million square meters, and to build 6,265 housing units in Makkah, Jeddah and Onaizah.

The ministry said that the agreements aim to develop four housing schemes, namely, Rawabi Al-Asila in Makkah, Al-Shorouk in Jeddah, and Hitteen and Al-Reem in Onaizah (Qassim Province), Saudi Press Agency reported. 

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 sector, and achieve the goals of the housing program, said Deputy Minister for Real Estate Development Abdulrahman Altawil.

Furthermore, the residential projects will help increase the housing supply in a number of cities and governorates in the Kingdom, Altawil said.

The ministry seeks to provide an encouraging investment environment for setting up more housing projects, finding the best solutions and enablers to improve the outputs of real estate projects. It also seeks to raise the quality of residential products in the real estate development sector, he added.