Housing Ministry plans to build 200,000 affordable housing units

Updated 06 February 2013
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Housing Ministry plans to build 200,000 affordable housing units

The Ministry of Housing plans to implement a program that will result in the construction of 200,000 housing units.
The ministry said that 17,600 units are currently being implemented. There is adequate land for the program.
He said the ministry has brought a foreign expert who will determine the mechanism to help distribute the housing units to individuals. Custodian of the Two Holy Mosques King Abdullah has ordered the construction of 500,000 housing units across the Kingdom as part of social welfare schemes. Construction is scheduled to be competed at the end of this year.
The housing units are intended to meet the needs of the lower income sector throughout the Kingdom.
Key criteria for receiving housing units stipulates that a beneficiary does not own a house, according to a ministry spokesman.
The foreign expert will finalize the distribution mechanism by the end of the year, he said. He said Saudi citizens will be given choice between loans provided by the Real Estate Development Fund (REDF), the housing unit or any other program approved by the Ministry.


Vox Cinemas wins second license to operate movie theaters in KSA

Updated 23 April 2018
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Vox Cinemas wins second license to operate movie theaters in KSA

  • Al-Futtaim Group to invest SR2 billion to open 600 screens and provide 3,000 jobs in the next five years
  • Vox Cinemas is the largest cinema operator in the MENA region

JEDDAH: Vox Cinemas, a subsidiary of Majid Al-Futtaim Group, won the second license to operate cinemas in the Kingdom.

The company received the license from the Minister of Culture and Information and Chairman of the General Authority for Audiovisual Media, Awwad bin Saleh Al-Awwad.

Al-Futtaim Group will invest SR2 billion to open 600 screens and provide 3,000 jobs in the next five years.

This will help achieve the goals of the Kingdom’s 2030 Vision when it comes to diversifying the economy and local production.

Vox Cinemas is the largest cinema operator in the MENA region and the leading regional cinema operator in the Kingdom.

Al-Futtaim Group is planning on opening its first movie theater in the Kingdom during the coming days. It will be in Riyadh Park Mall within the largest Magic Planet Family Entertainment Center in the region.

It consists of four screens, including the first IMAX screen for young people's movies and VOX KIDS, which is dedicated to children’s entertainment.