Saudi Arabia completes work on $614m residential projects
RIYADH, December 23, 2021
Saudi Arabia has announced the completion of 16 new residential projects worth SR2.3 billion ($614 million) across the kingdom covering major areas including Jeddah, Al Khobar and Al Ahsa in addition to the capital Riyadh.
These projects will see a mix of villas, townhouses, and apartments, stated SPA, citing the government's platform for authorising and regulating off-plan property, Wafi.
The projects, which span a total area of over 638,000 sq m, include a variety of residential units ranging from villas, townhouses, and apartments.
The government has already handed over many of these units to Saudi families under its Sakani Housing programme, which is aimed at increasing the percentage of Saudi families' ownership to 70 percent, in line with the Saudi Vision 2030.
Deputy Minister of Municipal and Rural Affairs and Housing Engineer Abdullah bin Muhammad Al Badir inspected a number of the Sakani projects in the Eastern Province.
A total of 35 projects are currently under way which on completion will provide more than 22,000 housing units, varying between villas, townhouses and apartments.
The work is moving at a steady pace with the level of achievement in projects exceeding 92% in most of them, stated Al Badir following a briefing by officals on the work progress.
In addition to these residential projects, more than 17,000 residential plots of land within 19 plans in various governorates and centers of the Eastern Region will also be delivered under Sakani scheme, he added.
