The Ministry of Housing will start implementing the second phase of Custodian of the Two Holy Mosques King Abdullah’s project aimed at constructing 500,000 housing units at the cost of SR 250 billion for low-income Saudis early next Hijrah year (December 2012), local Arabic daily Al-Madinah reported, quoting informed sources from the ministry. The sources said the second phase would consist of building 150,000 housing units in 15 provinces and added that the ministry would start the execution of the third and last phase after two years.

The ministry has divided the implementation of the project into three phases. The first phase is aimed at building 150,000 units in 15 regions in various provinces; the second phase aims for the same number of units in a different 15 regions; and the third and last consists of 200,000 housing units in 20 provinces.

According to sources, Jeddah will have two housing projects with a total area of 4.5 million sq m. The first of these projects will be in the eastern part of the city near Prince Fawwaz housing project, and will occupy an area of 3 million sq m, while the second will occupy 1.5 million sq m in the north of the city.

The price of each unit will be decided according to the area of the house or apartment, which will either be 150, 200 or 250 square meters.