Pacts signed for 10,000 housing units in the Eastern Province

The Ministry of Housing signed on Wednesday two cooperation agreements with two national real estate development companies to construct over 10,000 housing units in Taroot and Safwa centers in Al-Qatif governorate, Eastern Province, Saudi Press Agency reported on Wednesday.

The signing ceremony took place in the presence of the Minister of Housing Majed Abdullah Al-Huqail at the headquarters of Asharqiya Chamber of Commerce and Industry in Dammam.

The two agreements also cover infrastructure work.

The housing units will meet the needs of about 30 percent of applicants (for housing units) in the Eastern Province.

The Supervisor General of Investments and Real Estate Development in the Ministry of Housing Naif Bin Abdulmuhsin Al-Rasheed said these housing units come as an extension of the projects signed earlier by the ministry with several efficient local and international real estate developers.

The total number of housing units constructed in all regions of the Kingdom has reached 260,000 till now, Al-Rasheed said.

He added that the ministry is set to sign more contracts in partnership with the private sector. The housing units will be built on plots of land owned by the private sector to carry out other projects for housing units whose prices will be in the range of SR250,000 to SR650,000.

Al-Rasheed said the two agreements comprise “Tilal Al-Shurooq” project in Safwa with an area of 2.1 million square meters. It aims at providing over 9,000 housing units. Meanwhile, the total area of Taroot Project is 1.4 million square meters. The objective is to provide over 500 housing units.