Emir of Riyadh Prince Faisal bin Bandar inaugurated Al-Fursan suburb, the largest new residential suburb of the National Housing Company (NHC), in Riyadh on Wednesday. Minister of Municipal and Rural Affairs and Housing Majed Al-Hogail also attended the ceremony among other dignitaries.
Al-Fursan suburb project covers an area of 35 million square meters in the northeast of Riyadh with more than 50,000 residential units of various types, and over 190 vital facilities and commercial centers with green spaces exceeding six million square meters.
The inauguration ceremony included the signing of 18 investment agreements valued at more than SR24 billion between the NHC and the Ministry of Housing, as well as more than 18 highly-experienced and highly-qualified real estate developers to implement the Al-Fursan suburb’s projects.
The dignitaries and attendees watched a film about the project, as well as its implementation perceptions, and life experience in the future.
In a press briefing, Prince Faisal bin Bandar lauded the Saudi leadership’s support for the housing sector. He thanked Custodian of the Two Holy Mosques King Salman and Crown Prince and Prime Minister Mohammed bin Salman for their generous assistance to provide decent living standards for the Saudi people. He highlighted in this regard the vital role of the Ministry of Housing and the NHC.
For his part, NHC CEO Mohammed Al-Batti said that the new suburb comes with a new concept of housing and distinguished modern styles that carry the spirit of architectural originality with global standards that meet the quality of life requirements, providing a unique experience with gardens, green spaces, and integrated services.
“Al-Fursan suburb is the largest in terms of the area and number of housing units that the NHC is implementing in partnership with real estate developers,” he said while stressing the company’s intention to launch the second phase of the Khuzam suburb in the near future.