Egypt’s Al Ahly for Real Estate Development says Saudi Ministry of Housing has approved the company’s engineering designs to establish 100,000 housing units in Dammam and Al-Kharj cities in the Kingdom.
The Egyptian company has been tasked with conducting the engineering designs for the Dammam and Al-Kharj residential projects, dedicated for low-income citizens, chairman Hussein Sabbour told Amwal Al Ghad on Wednesday.
Al Ahly will not not execute construction works and attain new residential projects in Saudi Arabia within this year, Sabbour said.
The Egyptian official further said the Saudi Ministry of Housing is currently launching a number of various housing flagships for low-income citizens as well as services and administrative projects.
The ministry targets completing the 100,000 units, which will include small villas within 2020, Sabbour added.
Al Ahly has recently signed a contract with Saudi Ministry of Housing to conduct the engineering designs of a prominent investment hospitals in the Kingdom, Sabbour stated, saying he expects the designs would complete within the coming months.
