(MENAFN- Mid-East.Info) Jeddah The National housing Company (NHC) launched its latest uber luxury housing project, the“Sadayem” Suburb, in North Obhur in Jeddah. The launch ceremony, organized under the patronage of H.R.H. Prince Badr bin Sultan bin Abdulaziz, Deputy Governor of Makkah Region, the Suburb was officially inaugurated by H.H. Prince Saud bin Abdullah bin Jalawi, Governor of Jeddah. Also present on the occasion were H.E. Abdullah AlBudair, Vice Minister of Municipal and Rural Affairs and Housing, and Mr. Yazid bin Ibrahim Al-Nafisa, Deputy Executive President of the National Housing Company.
The“Sadayem” suburb covers a total area exceeding 3.8 million square meters and houses over 8,000 residential units, including villas, apartments, and townhouses. The integrated structures boast architectural designs inspired by the identity of the Hijazi region, creating a comfortable and luxurious living environment for more than 40,000 residents. The suburb is strategically located east of Al-Buhairat city, near the Red Sea coast, and close to various essential services and significant future projects.
H.E. Abdullah AlBudair expressed his appreciation for the support of His Royal Highness Prince Khalid Al-Faisal, Advisor to the Custodian of the Two Holy Mosques and Governor of Makkah Region, and His Royal Highness Prince Badr bin Sultan bin Abdulaziz for their generous contributions in accelerating the provision of housing projects for citizens throughout the region. He also thanked His Highness Prince Saud bin Abdullah bin Jalawi for his presence and inauguration of the suburb. He highlighted the region's significant progress in development and noted that the suburb is an extension of the numerous residential communities and suburbs previously established, aiming to increase the real estate supply in line with the goals of the Housing Program and Vision 2030.
Mr. Yazid bin Ibrahim Al-Nafisa, Deputy Executive President of the National Housing Company, emphasized that residential suburbs reflect the vital role the company plays in empowering the private sector through collaboration with specialized companies to provide more future projects. This initiative helps increase the homeownership rate among families by promoting integrated residential communities.
“Sadayem” offers an integrated, ultra-modern concept of quality living, featuring long green pathways extending over 8 kilometers, resembling the design and style of historical neighborhoods in Jeddah. The pathways facilitate access to all surrounding services, green spaces, vital facilities, and amenities, providing an innovative living environment close to the seaside.
During the inauguration ceremony, several agreements were signed between the National Housing Company and various real estate development companies, including Rattal Real Estate Development Company, Mayar for Development and Real Estate Investment Company, Dar and Emar for Real Estate Investment and Development Company, Mohamed Al-Habib and Partners Company, Ajdan for Real Estate Development Company, Thabat Al Maskan Real Estate Company, and Ebar Al-Mamlaka Real Estate Company. Furthermore, Memorandums of Understanding were signed with Al Habib Medical Group, Lejam Sports Company, Human Development Company, SASCO Vehicle Services, and Waad Holding to provide comprehensive services for the inhabitants of the suburb. The agreements are aimed at developing residential communities in the“Sadayem” suburb. Additionally, cooperation agreements were also signed with Al-Ahli Bank, Al Bilad Bank, and Al Rajhi Bank, to offer special financing options for“Sadayem” suburb beneficiaries.
According to the National Housing Company, the sale of properties in the“Sadayem” suburb will begin on Monday, July 24th of this year. The first phase will include villas with a starting price of SAR 800,000. The sale of apartments and townhouses will follow in upcoming phases.
It is worth noting that the National Housing Company leads and enables the real estate supply system and invests in several projects and suburbs in the Makkah region. With a total area exceeding 15 million sqm and over 37,000 diversified residential units, the company has developed 51 projects across the region. The current initiative aligns with the NHC's commitment to increase the supply and provide all elements of quality living in residential communities, in line with the objectives of Saudi Vision 2030, aiming to raise the homeownership rate to 70%.