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FinancialNews
10-07-21
Saudi Developmental Housing signs deal to provide housing units to families most in need
(MENAFN)According to SPA, the Saudi Developmental Housing Program inked a tripartite deal with Alwaleed Philanthropies and the National Developmental Housing Corporation (Sakan), to offer 10,000 housing units with a total rate of over SR2 billion (USD533 million) to families most in need, to enable them to own a home.
The main deal in the developmental housing sector is considered an addition of a number of preceding deals concluded with NGOs and donor institutions. This brings the total units that will be given to families to 38,000 housing units serving over 200,000 individuals with a contribution from the third sector that surpassed SR9 billion.
Minister Majid bin Abdullah Al-Hogail stated that this collaboration of the three firms comes within the support of activating the housing sector’s participation in national development programs, and improving its economic and social impact in the Kingdom.
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