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$432 million deal to provide new housing units for needy families in Riyadh

Mon, 2021-10-11 03:23

RIYADH: A deal has been signed to provide 5,000 new homes for needy families in the Riyadh region.

Acting Riyadh Gov. Prince Mohammed bin Abdulrahman bin Abdulaziz revealed the deal — which involves agreements between the Saudi Ministry of Municipal and Rural Affairs and Housing, National Developmental Housing Corporation (Sakan) and the Al-Birr Charitable Society in Riyadh — at an event at Qasr Al-Hukm.

He praised the support that the housing sector in the region receives from the government.

The deal, with a total value of SR1.62 billion ($432 million), was also signed in the presence of Housing Minister Majid Al-Hogail.

Other officials also took part in the ceremony, including Prince Saud bin Talal bin Badr, undersecretary of housing subsidies and general supervisor of the International Cooperation Department in the housing ministry; Fahd Al-Shammari, member of the board of trustees of Sakan; and Thamer bin Ghasian, secretary-general of Al-Birr Charitable Society in Riyadh.

The agreement aims to provide housing support to citizens and improve family quality of life in line with Saudi Vision 2030, Prince Mohammed bin Abdulrahman said.

Al-Hogail praised the role of the Jood Housing platform in empowering NGOs to provide financial resources in partnership with community members, helping families in need.

Families registered with Al-Birr Charitable Society — based on the support mechanism approved by the Jood platform — will benefit from the agreements.

The platform seeks to enhance the role of development agencies in achieving family stability for beneficiaries through the provision of housing units in cities and governorates across the Kingdom.

The deals also aim to improve the operating environment of the nonprofit sector and increase its contribution to Saudi gross domestic product.

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