King Abdullah Economic City signed MoU to support housing ownership

The various residential neighborhoods are designed to meet the requirements of family life. (SPA)

• KAEC has “witnessed great demand from visitors and investors as a leading destination for housing, tourism and investment due to its logistic capabilities and advanced infrastructure

JEDDAH: King Abdullah Economic City (KAEC) signed a memorandum of understanding (MoU) with an international company specializing in real estate finance, with the aim of increasing citizens’ ownership of housing.
The MoU targets those eligible for support from the Housing Ministry and the Real Estate Development Fund who wish to buy ready-made housing units in various residential neighborhoods in KAEC, with monthly instalments for up to 25 years and competitive prices.
Anas Najmi, head of the quality of life sector in KAEC, said the MoU will provide an opportunity to own various residential products in the city, within a modern and sophisticated environment suitable for all income levels.
KAEC has “witnessed great demand from visitors and investors as a leading destination for housing, tourism and investment due to its logistic capabilities and advanced infrastructure, as well as its world-class recreational, social and sports facilities,” added Najmi. The various residential neighborhoods are designed to meet the requirements of family life.