Saudi Arabia’s housing ministry has built 50,000 residential units under the public-private partnerships (PPP) scheme, Al Eqtisadiah newspaper reported, citing Ahmed Mandoura, advisor to the ministry and supervisor of the Private Sector Partnerships Unit.
The contract for building another 60,000 units will be awarded to developers later, he added.
Last July, Saudi Arabia’s housing ministry awarded around 20 residential projects to 16 real estate developers to build 33,000 residential units.
The ministry seeks to complete 60 percent of the planned 1.6 million housing units over the next five years.
The ministry on Tuesday launched the seventh phase of its Sakani housing program that includes allocation of 28,051 housing products, data compiled by Argaam showed.
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