National Housing, KAEC ink MoU to build 8,000 homes under Sakani program

05/06/2018 Argaam

 

Saudi Arabia’s National Housing Co. (NHC) on Monday inked a memorandum of understanding (MoU) with King Abdullah Economic City (KAEC) to build additional 8,000 residential units in Al-Shurooq city under Sakani program, official news agency SPA reported.

 

No further details were mentioned on the deal value.

 

The strategic partnership between the housing ministry and KAEC embodies cooperation between the public and private sectors as part of Sakani program, to provide affordable housing products, Majed Al Hogail, Minister of Housing, said.

 

Meanwhile, Fahd Al-Rasheed, KAEC’s chief executive, said 1,800 residential units are being developed in the second phase of Al-Shurooq district amid strong turnout.

 

As many as 1,440 units were delivered in the first phase of the city, he added.

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