Saudi Arabia: 82 projects providing 132,000 housing units in major cities

          The start of the second phase, with the start of the sale of "Murcia" housing north of Riyadh            
           
Within its housing leaps, Saudi Arabia continues to launch its housing development projects among 82 gigantic housing projects under construction that provide more than 132,000 units as part of the Ministry of Housing's efforts to provide housing solutions that enable Saudi families to own homes in major cities. 

According to what the Saudi Minister of Housing disclosed in a meeting with media representatives the day before yesterday, the planned housing units represent modern models of high quality, varying between apartments, villas and “townhouses” at prices ranging between 250 and 750 thousand riyals located in strategic locations within major cities.

The beginning was yesterday in the capital, Riyadh, as the second phase was launched and the sale started in the Murcia residential project located in the suburb of Al-Jawan, north of the capital, Riyadh.

The Murcia project is the largest project in the real estate development sector in the Kingdom, according to the National Housing Company, the investment arm of the Saudi Ministry of Housing.

The second phase of the Murcia project was launched in the suburb of Al-Jawan as an extension of the previous phase in which the development and construction work continues at an accelerated pace. Residential units vary between villas, apartments, and townhouses, while the bulk of Al-Jawan suburb is formed, in which the National Housing Company (a government company) plays the role of the main developer for it. The area of ​​Al-Jawan suburb is approximately 11.5 million square meters, and its residential units amount to 22.4 thousand units that can accommodate more than 125.2 thousand people in a typical residential and community environment.

Regarding housing sector policies, Majed Al-Hogail stressed that it “stems from the three main axes of the vision to achieve a prosperous economy, a vibrant society and an ambitious nation, with the aim of providing adequate ownership opportunities for Saudi families to meet their aspirations and comply with their capabilities in a healthy and full environment, within the housing finance and support policies, And supply support policies, systems development policies, and services development policy.

Al-Hogail pointed out that the “Sakani” program helped in the growth of the number of real estate loans from Saudi banks and financial institutions to more than 20 thousand contracts per month, revealing that more than 710 thousand families have actually benefited from the housing options provided by the “Sakani” program.

For his part, the CEO of the National Housing Company, Eng. Mohammed bin Saleh Al-Batti, said: “The launch of the second phase of the Murcia project is a major additional step for the company’s efforts to provide model neighborhoods within an integrated residential environment that reflects the work on developing the real estate development sector, stimulating it and enhancing its attractiveness to create housing projects. According to specifications that support the aesthetics of Saudi cities and serve the community. He emphasized the company’s keenness to develop more housing projects that fit the aspirations and achieve the highest quality standards in the real estate development sector, which would contribute to achieving the objectives of the “housing program” and enhancing the “quality of life” within the Kingdom’s Vision 2030 programs.