The Saudi Housing Ministry announced it is working on the implementation and design of 160 housing projects across the Kingdom.
Other similar projects are being promoted through the private sector, such as real estate developers and national construction companies, in order to pump more housing units in the real estate market.
According to sources, these dwellings will be distributed among citizens later on.
The ministry officials clarified that the cooperation with the private sector stems from the government’s interest to help citizens who are eligible for housing support.
“The national housing strategy emphasizes the need to cooperate with the real estate sector,” sources at the ministry were quoted as saying in the local media.
As part of the housing strategy, the ministry needs the private sector’s services and expertise to provide further residential alternatives to citizens. A number of developers and contractors have stepped up to this need and are ready to cooperate and comply with the design standards set by the Ministry, officials said.
It is expected that Riyadh’s housing project, which is currently being implemented near King Khaled International Airport, will witness the first fruits of these joint efforts, paving the way for similar projects.