Saudi's NHC launches 1.5km2 'Khayalah' project in Jeddah
The project, which is being constructed as part of a public-private partnership, will provide 3,521 housing units to citizens
Saudi Arabia’s National Housing Company (NHC) has launched the 1.5km2 “Khayala” residential project in in the Al-Falah neighbourhood in the north of Jeddah to provide 3,521 housing units to Saudi citizens.
The “Khayala” project will be implemented by the National Housing Company, near the main Haramain road, which links the governorate’s neighbourhoods to the King Abdulaziz International Airport and the King Abdullah Sports City.
The project is being constructed as part of a public-private partnership in cooperation with private developers in the kingdom.
In August 2020, the National Housing Company signed eight agreements to develop projects in both Riyadh and Jeddah, including the “Khayala” project, in partnership with the First Real Estate Development Company, Sumou Real Estate Development Company and the McKeon Company, according to the state-run Saudi Press Agency.
The chief executive officer of the National Housing Company, Eng Muhammad bin Saleh Al-Batti, confirmed that the launch of the “Khayala” project comes within the company's plans to develop modern residential complexes suitable for all target groups in Saudi’s “Sakani” programme, and to provide housing units.
Al-Batti added that these projects reflect the active pioneering role that the National Housing Company is working to achieve, in cooperation with specialised companies to provide more future projects within qualitative partnerships with qualified real estate developers with experience and competence in developing infrastructure, construction, and building, in a way that helps families to own houses.