Saudi’s Ministry of Housing launches two new residential projects
Saudi Arabia’s Ministry of Housing has launched two new residential projects in Jeddah in partnership with the private sector. Once Obhur Park is completed, they are expected to feature a combined total of 8,000 housing units.
Obhur Park will take shape in the north of the Jeddah governorate at the intersection of King Saud and Prince Abdullah Al Faisal Street and will provide 8,000 residential apartments. The project area is said to be in excess of 1,145sqm, with built-up areas ranging from 125 to 256sqm each, said a statement from Sakani.
Al Suwailem, affirming the continuation of the Sakani programme to provide more projects and plans during the coming period, said it aims to raise the percentage of residential ownership by Saudis to 70% by 2030.
He added that the Sakani programme aims to serve 300,000 Saudi families this year through its various housing and financing solutions.