Saudi Housing Ministry plans to deliver 120,000 housing products to potential buyers within three years, as part of a housing program to provide 280,000 properties across the kingdom.
The project, called Sakani, is built in cooperation with the private sector, and supported by a home financing program in collaboration with commercial banks, the Real Estate Development Fund, and other mortgage insinuations.
The products included 75,000 land plots, and its marketing will start next month.
The total investment in the project reached about SAR 119.5 billion. It is expected to contribute SAR 562 billion to the economy of the kingdom, Housing Minister Majid al-Hugail said.
Direct and indirect economic impact for Sakani project could reach SAR 433 billion, and could create 36.800 new jobs, he added.
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