Prince Saud bin Nayef bin Abdulaziz, Governor of the Eastern Province, affirmed that the Kingdom of Saudi Arabia, under the leadership of King Salman bin Abdulaziz Al Saud and the Crown Prince, has set among its priorities and plans the provision of adequate housing for the citizen. “The housing sector in the Eastern Province enjoys generous support from the leadership, like other regions of the Kingdom.
Prince Saud bin Nayef bin Abdulaziz praised the role of National Housing in providing integrated residential community services, and finding various housing solutions and options that suit the lifestyles of Saudi families”. He said during the inauguration that the projects of the second phase in the Al-Wajeha suburb in Dammam, and Qamra community in the Qatif Governorate.
Moreover, In the presence of the Minister of Municipal, Rural Affairs and Housing, Mr. Majid Al-Hogail, and the CEO of the National Housing Company (NHC), Mr. Mohammed Albuty, Prince Saud bin Nayef bin Abdulaziz sponsored the signing of agreements between the National Housing and its real estate developer partners.
“The leadership is very keen to facilitate all services for citizens and raise their quality of life, especially in the most important requirement of life, which is helping them to provide adequate housing, indicating that the inauguration comes as an extension of the many development projects that the region is witnessing, and serves its people,” He said.
Launch of second phase
During the ceremony, the projects of the second phase were launched for the Al-Wajeha suburb, one of the largest residential suburbs in the Kingdom, with an area of more than 9 million square meters. It will provide 5,400 housing units for more than 27 thousand people. In addition, the Qamra Community was launched in Qatif Governorate, on an area of more than 1.4 million square meters, providing more than 2,300 housing units of various sizes and designs, as an extension of the ongoing efforts to increase the real estate supply in the Eastern Province of high-quality housing units at a suitable price that meet the requirements and desires of the Saudi family.
Furthermore, the Minister of Municipal, Rural Affairs, and Housing valued the support of HRH Prince of the Eastern Province for the projects of the region and overcoming obstacles in order to speed up their provision to citizens in order to achieve the Ministry’s objectives emanating from the housing program, one of the programs of the Kingdom’s Vision 2030.
For his part, the CEO of NHC stressed that the signed agreements and launched residential communities aim to increase the real estate supply in the region, provide housing solutions for citizens and enhance the quality of life.
During the inauguration ceremony, a number of agreements with a total investment of 4.5 billion riyals were signed between NHC, Retal Urban Development Co., Dar Wa Emaar Co., Tilal Real Estate Co., Sumou Real Estate Co., Maya Real Estate Development and Investment Co., and Tamkeen Real Estate Development Co. to develop residential communities in Al-Wajeha suburb and Qamra Community.
Size of NHC investments in Eastern Province
NHC’s investments in residential projects in the Eastern Province exceed 20 billion riyals and more than 25 thousand housing units of various designs and spaces within the framework of its keenness to increase the real estate supply, raise the percentage of ownership and provide all elements of the quality of life in residential communities.
