Construction of 400 housing units to begin in last quarter of 2025
The Saudi Fund for Development has provided a loan assistance of USD 25 million to carry out the project
Inauguration of the housing project - 14.04.2025
The 400 affordable housing units project, which is set to be carried out under the Saudi Fund for Development loan funding, has been inaugurated.
In a special ceremony held on Monday, the Chief Executive Officer of the Saudi Fund, Sultan bin Abdulrahman Al-Marshad, and the Minister of Finance and Planning, Moosa Zameer officially launched the 400 affordable housing units project to be carried out under the Saudi Fund for Development loan funding.
The Saudi Fund for Development has provided a loan assistance of USD 25 million to carry out the project.
Regarding the project, the Ministry of Construction, Housing and Infrastructure said that this is one of the projects to be carried out under the policy of fulfilling one of President Dr. Mohamed Muizzu's most important pledges to provide shelter for every citizen.
The project is currently in the stage of selecting a consultancy firm. The ministry has revealed that the actual work will begin in the last quarter of the year.
The current administration has inaugurated a new housing project at a time it has withheld the flats from the Gedhoruverin (Homeowner) Scheme distributed by the previous government.
According to the list published by the current administration after conducting an evaluation, out of 4,000 flats, only 1,820 people meet the criteria and will receive flats. This includes 1,423 people who met the criteria and scored 75 points out of 3,721 people on the three-bedroom list, and 397 people who met the criteria and scored 73 points out of 1,218 people on the two-bedroom list.
