JEDDAH: King Abdullah Economic City (KAEC) signed a memorandum of understanding (MoU) with an international company specializing in real estate finance, with the aim of increasing citizens’ ownership of housing.
The MoU targets those eligible for support from the Housing Ministry and the Real Estate Development Fund who wish to buy ready-made housing units in various residential neighborhoods in KAEC, with monthly instalments for up to 25 years and competitive prices.
Anas Najmi, head of the quality of life sector in KAEC, said the MoU will provide an opportunity to own various residential products in the city, within a modern and sophisticated environment suitable for all income levels.
KAEC has “witnessed great demand from visitors and investors as a leading destination for housing, tourism and investment due to its logistic capabilities and advanced infrastructure, as well as its world-class recreational, social and sports facilities,” added Najmi. The various residential neighborhoods are designed to meet the requirements of family life.
King Abdullah Economic City signed MoU to support housing ownership
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King Abdullah Economic City signed MoU to support housing ownership
- KAEC has “witnessed great demand from visitors and investors as a leading destination for housing, tourism and investment due to its logistic capabilities and advanced infrastructure
Saudi Arabia stops ballistic missiles aimed at Prince Sultan Air Base
- Saudi Arabia’s cabinet on Tuesday strongly condemned Iranian attacks targeting the Kingdom
RIYADH: Saudi Arabia shot down seven ballistic missiles, the defense ministry said early Wednesday.
Six of the missiles were aimed at Prince Sultan Air Base, and the other was intercepted while heading to the Eastern Province.
Seven drones were knocked down heading to the Shaybah oil field in the Empty Quarter.
Thirteen drones were also shot down in Al-Kharj, Hafar Al-Batin, and other parts of the Eastern Province, the ministry said.
The war, launched by the US and Israel on Iran, has escalated, impacting regional stability and sparking a global energy crisis.
Saudi Arabia’s cabinet on Tuesday strongly condemned Iranian attacks targeting the Kingdom, Gulf states and other countries in the region, saying they threaten regional security and violate international law.
The cabinet session, chaired by Crown Prince Mohammed bin Salman via videoconference, reaffirmed Saudi Arabia’s right to take all necessary measures to protect its security, sovereignty and territorial integrity.
Brent crude hit a historic $120 a barrel on Monday before settling back down to $90 a barrel on Tuesday.
Amin Nasser, CEO of Aramco, the world’s top oil exporter, told reporters: “There would be catastrophic consequences for the world’s oil markets and the longer the disruption goes on ... the more drastic the consequences for the global economy.”
The White House said that gas prices will plummet once US objectives in the war are reached.
The conflict could stretch on for months despite US President Donald Trump saying that it could be drawing to a close. But Iran’s Revolutionary Guard has said it will end when they decide.
