09/10/2016
Meeting the need of 30% of the region and characterized by high quality and
appropriate price.
The Ministry of Housing has signed two collaboration agreements with two
qualified national companies of the real
estate development companies, to establish more than 10 thousand housing units,
distributed in each of "Tarot" center and "Safwa" in the
province of Qatif, with the integration of the infrastructure works and the
provision of various locations for facilities service, that
meet the needs of about 30% of applicants to the housing support gate in the
eastern region, in the headquarters of the Chamber in Dammam.
The general supervisor of the real estate investment and development in the
Ministry of Housing Nayef bin Abdul Mohsen Al Rasheed, stressed that the two
projects come as an extension of the projects that have already been signed by
the ministry with a number of local and international developers of qualified
and experienced in the housing sector, that have exceeded 260 thousand
housing units in all regions of the Kingdom until now, it is distinguished by
the diversity of options and quality of implementation and appropriate price,
pointing that the ministry is about to sign more contracts in partnership with
the private sector on their lands for the implementation of other projects that
aim at residential units with prices ranging from 250 thousand riyals to 650
thousand riyals in order to support offering and empower demanding and motivate
the real estate offers and raising productivity to provide residential products
in a suitable price and quality, noting that what is concluded by the Ministry of
housing agreements to improve on their lands or the private sector are the initial
steps to implement the strategy to achieve the goals of the Kingdom vision 2030.
Al Rasheed said after the signing of two agreements at
the headquarters of Asharqia Chamber on Wednesday 5 / October / 2016 in the presence of His
Excellency the Minister of Housing Majid bin Abdullah Al Hugail: "In the
context of effective partnership between the Housing Ministry and the private
sector represented by developers of qualified real estate, these two
agreements are for the implementation of new housing units in the eastern region to
contribute to meeting the needs and provision of appropriate housing support to
the beneficiaries of the various segments of society, as it extends the project
( Tilal Ashorooq) on 2,100,000 m and aims to provide more than nine thousand
housing units, while of the project (Tarot) is of 1.400.610.54 m and aims to
provide more than 500 housing units, while the two projects include
infrastructure services such as water and electricity networks, communications
etc., in addition to locations allocated to required service facilities like mosques,
schools, health, security, trade and other centers. "
He revealed that the two projects will be marketed to the beneficiaries
residential support in the ministry and the real estate fund as soon as the developers Terms of selling on a map license through the "
Wafi" program, to save the rights of all parties to the partnership,
noting that all projects aim at delivering the beneficiaries their units in a
maximum period of 36 months from selling on the map. He pointed to the ministry interest to the fruitful
cooperation with the developers qualified to contribute to raising the
percentage of ownership and facilitate access to adequate housing, with the
activation of competition between companies and increasing the number of real
estate development companies through a variety of programs, including the
conversion contractors to developers and programs to support the financing of
small and medium developers program to meet the wishes of the citizens and
their ambitions, and to ensure that after housing ongoing maintenance of
housing units and other services and achieve the Kingdom vision 2030, pointing
to the role of real estate developers services center "Itmam" set up
by the ministry about 5 months ago to overcome the difficulties developers may
face in the implementation of their projects across all regions of the Kingdom
in various cities and provinces.
The Ministry of Housing, signed earlier a number of collaboration agreements
with local and international developers to
create thousands of housing units in various regions of the Kingdom, among them
signing with more than 20 local developer, and with a Saudi-Korean Alliance for
the implementation of 100 thousand units in the Forsan suburb in Riyadh, also
five Chinese companies for the construction of about 100 thousand units in the
suburb of "Al Asfar" in Al Ahsa province, and will be followed by a
series of agreements with the Egyptian companies, British, French, American and
Turkish, among others.
