Saudi Developmental Housing signs deal for 4,000 housing units in Makkah

The agreement is in line with Saudi Arabia’s Vision 2030 goal to raise non-profits’ contribution to GDP to 5 percent from 1 percent. (AFP)

• Program will cost $346.6 million
• Participants include Nafa Charity Society, National Developmental Housing Corp.

RIYADH: The Saudi Development Housing Program signed a 5-year agreement with the Nafa Charity Society in Makkah and the National Developmental Housing Corporation (Sakan) to provide 4,000 housing units for the most needy families in the Makkah region.

The SR1.3 billion ($346.6 million) program will allow the beneficiaries to own their own homes, said Minister of Municipal, Rural Affairs and Housing Majid Al-Hogail.

The agreement is in line with the Kingdom’s Vision 2030 goal to raise the nonprofit sector’s contribution to the GDP from 1 percent to 5 percent, Al-Hogail said.