The cooperation agreement between Dar wa Emaar and the Ministry of Housing came to support government initiatives, aiming at empowering citizens to possess housing and accelerating the completion of real-estate projects that meet the needs of those initiatives under the umbrella of « Sakani » Program.
The « Villa Saraya » projects, which « Dar wa Emaar » is developing in both Riyadh and Al Khobar in the Eastern Province, are approved by the « Sakani » Program, to provide citizens with the opportunity to acquire their own houses through residential units being developed under
the name of « Villa Saraya », including the « Saraya Alnarjis » Project in Riyadh and the « Saraya Al Ghoroub » Project in the Eastern Province, which includes the development of (1,410) housing units of various sizes and categories, within integrated service residential neighborhoods, and are available for ownership within the « off-plan sale » system.
Within its current plans, Dar wa Emaar plans to construct a new residential neighborhood entitled « Saraya Aljewan » covering an area of 491,639 square meters in Al-Jiwan neighborhood, which is being developed by the Ministry of Housing north of Riyadh City. The new project is planned to provide 936 new residential villas with a total construction area of more than 236,000 square meters within an integrated residential environment with services and facilities, and will be available for ownership by the beneficiaries of the Ministry of Housing’s housing programs, as well as other individuals through the off-plan sale system. On the other hand, Dar wa Emaar has a cooperation agreement with a number of funding entities to provide easy financing solutions for citizens wishing to possess housing units in the projects that Dar wa Emaar is developing, within the framework of competitive financing advantages and facilities.