The project is to be completed over the next two years.
“The GHC is striving to construct residential units at a rapid pace in order to provide housing to citizens in all provinces,” Al-Duwaihi said.
He added that one of the ongoing GHC housing projects is scheduled to be completed after eight months. Other projects of the GHC will be completed at the rate of one every two months after that.
The corporation studies each application before deciding how to prioritize it, Al-Duwaihi said, adding that e-governance helped considerably in the selection of applicants.
He said the cost of a unit in the project was estimated at between SR390,000 and SR430,000 at the rate of SR1,400 per square meter.
Each unit occupies an area of 500 square meters and will have all basic amenities such as water tanks and sanitation. Payment will be in installments over a period of between 25 and 30 years.
