KSA to start construction of 150,000 houses by December
The execution of the third phase is expected to begin after two years, ministry sources say
Saudi Arabia is set to launch the second phase of a government initiative to build 500,000 housing units for low-income Saudi nationals at a total of cost of $65bn.
The second phase will see the Ministry of Housing commence by December 2012 the construction of 150,000 new residential units in 15 provinces across the Kingdom.
The execution of the third and last phase, which consists of 200,000 housing units in 20 provinces, is expected to begin after two years, local Arabic daily Al-Madinah said, citing sources at the ministry.
According to the plan, Jeddah will have two housing projects with a total area of 4.5mm2.
The first of these projects will be in the eastern part of the city near Prince Fawwaz housing project, and will occupy an area of 3mm2, while the second will occupy 1.5mm2 in the north of the city.
