PROJECTS: Saudi Arabia to offer new housing deals to developers

Nine construction sites allocated

  
Image used for illustrative purpose.

Image used for illustrative purpose.

REUTERS/Reuters Staff
Saudi Arabia has approved nine new sites to be offered to developers for the construction of houses within an ongoing drive to boost partnership with real estate firms and expand house ownership for citizens, local press reports said on Monday.
 
The sites, with a combined area of around 16 million square metres, are located in the capital Riyadh, the Western Mekka city, Alqassim in Central Saudi Arabia, the Eastern region, Asir in the South, the Northwestern town of Tabouk and the Northern area, the Arabic language daily Aliqtisadia said.
 
The Developers Services Center (Etmam) at the Ministry of Municipal & Rural Affairs & Housing has identified those sites, which were approved by the Ministry.
 
“The new locations are part of Etmam’s plan to upgrade the performance of the real estate sector in the Kingdom and provide opportunities to developers,” the report said.
 
Etmam also granted permits to local developers in the first half of 2021 for the construction of more than 8,100 houses in various parts of the Gulf country.
 
(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@refinitiv.com)

This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here
© ZAWYA 2021

More From Construction