Saudi Arabia launches new housing project in Jeddah
RIYADH, December 16, 2017
The Saudi government has launched its ambitious Jeddah Gateway housing project on a 192,000-sq-m area located east of the Haramain Expressway, said a report.
The project, being implemented by Sundus Developers, will boast 30 buildings with eight to 16 floors offering a total of 1,952 housing units with four to six apartments on each floor, reported the Saudi Gazette.
This is the Saudi housing ministry’s second project in Jeddah for its citizens. Previously it had distributed housing units at Rabigh and King Abdullah Economic City, stated the report, citing a senior official.
“The housing units will be handed over to the beneficiaries within three years of signing the lease agreement,” remarked Naif Al Suhaim, general manager of Sundus.
Al Suhaim said the project would have three-bedroom and five-bedroom apartments of 134 sq m and 196 sq m respectively with balconies and other additional facilities.
Prices for the apartments range from SR370,000 to SR590,000 ($98,610 to $157,243).
"About 40 per cent of the area surrounding the buildings will be full of greenery," Al Suhaim said, adding that the housing complex would be provided with educational, healthcare and religious facilities.
It will have a hypermarket and a 47,590-sq-m commercial centre for shops selling different products, he added.
