Projects are part of the Sakani programme, which aims to increase the percentage of residential ownership by Saudis
Saudi Arabia’s Ministry of Housing has launched two new residential projects in Jeddah in partnership with the private sector. Once Obhur Park and Mogan Village are completed, they are expected to feature a combined total of 8,083 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.
Mogan Village will be developed north of Jeddah on a total area of 28,300sqm and will house 83 villas ranging from 225sqm to 308sqm.
The developments bring the number of projects under construction in the Makkah region to 14 which, on completion, will boast 63,000 diverse units, said Saif bin Salem Al Suwailem, the official spokesman of the Ministry of Housing.
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.