Saudi Development Housing Initiative and Katerra will build 4101 housing units
Saudi Development Housing Initiative signed an agreement with Katerra will build 4101 individual homes across the Kingdom.
The signing ceremony was held under the patronage and presence of His Excellency, Minister of Housing, Mr. Majed Bin Abdullah Al-Hogail and Ziyal Al Ashaikh, Partner Head of Softbank SBIA, Saudi Arabia and was signed by Ash Bhardwaj, President Asia and Middle East, Katerra.
The new construction will provide housing units for the beneficiares of the Development Housing Initiative in line with the Kingdom’s objectives.
The Development Housing Initiative is a continuation of a series of agreements to build housing units in a number of cities and provinces of the Kingdom. The signed 4101 housing units will be built in the following areas: (Makkah, Madinah, Al Baha, Al Jawf and Al Qasim), as follows: 2482 housing units in Makkah, 1043 housing units in Madinah region, 140 housing units in Al Baha, 191 housing units in Al Jawf and finally 245 housing units in Al Qasim.
The Development Housing Initiative is one of the programs that come as part of Vision 2030. It aims to meet the needs of the most disadvantaged families in the Kingdom and to enable them to own their homes or utilize them according to their needs and financial capacity. Katerra, a technology driven global construction company, is committed to support the initiative and use its unique technology to bring better and faster homes to families in the kingdom.
Backed by Soft Bank’s Vision Fund, Katerra makes its foray in the Saudi market, introducing advanced construction technology to support the country’s infrastructure plan outlined in Vision 2030. Katerra has strong business plans to rapidly expand its operations in the Saudi market and revolutionize its construction sector by introducing advanced global practices.