Saudi finance Ministry, Sakani program sign housing deal

The deal is to provide housing services for ministry beneficiaries,. (SPA)
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Updated 17 January 2020

Saudi finance Ministry, Sakani program sign housing deal

The Saudi Ministry of Finance and the government’s Sakani program have signed a cooperation deal to provide housing services for ministry beneficiaries.

The agreement will include beneficiaries on the lists of the Ministry of Housing and the Real Estate Development Fund.

The deal aims to combine the services of the finance and housing ministries along with other governmental agencies to streamline operations. The agreement provides offers for the ministry’s beneficiaries. 

It also included an exemption from administrative fees through the financing agencies providing advice on Sakina housing loans at the residential exhibition inside the ministry’s headquarters.


Qiddiya awards SR10bn in contracts to help construct Riyadh mega project

Updated 20 min 25 sec ago

Qiddiya awards SR10bn in contracts to help construct Riyadh mega project

  • The funding will be backed by the Kingdom's Public Investment Fund

RIYADH: At least SR10 billion ($2.66 billion) worth of contracts will be awarded to various companies to speed up the construction of a mega entertainment and sports project in the Saudi capital Riyadh, the Qiddiya Investment Company announced on Thursday.

The funding will be backed by the Kingdom's Public Investment Fund.

The Qiddiya project includes a number of art, entertainment and sporting facilities, and is being built on a 334 square-kilometre site close to Riyadh.

Its construction forms part of Saudi Arabia’s Vision 2030 program that aims to diversify the Kingdom’s economy.

“We’ve awarded well over 1 billion riyal in contracts so far and that figure is going to jump, maybe ten times to 10 billion riyals, which will all be construction related contracts,” Michael Reininger, chief executive told The National.