According to the Ministry of Housing, the housing units will be allocated in line with the government’s policy to provide affordable housing solutions. However additional details regarding housing units have not been disclosed so far.
The 400 affordable housing units project in Hulhumale' under the Saudi Development Fund (SDF) has launched today.
The project was inaugurated at a special ceremony held in Hulhumale', by Minister of Finance and Planning Moosa Zameer and CEO of the Saudi Fund for Development, Sultan bin Abdulrahman Al-Marshad.
According to the Ministry of Housing, the housing units will be allocated in line with the government’s policy to provide affordable housing solutions. However additional details regarding housing units have not been disclosed so far.
Speaking at the inauguration, Minister Zameer said the project would help alleviate the country’s social and economic challenges surrounding affordable housing.
Minister @MoosaZameer and H.E. Sultan bin Abdulrahman Al-Marshad, CEO of @SaudiFund_Dev, inaugurated the 400 Affordable Housing Units Project financed by SFD today. pic.twitter.com/95gEFT0PwU
— Ministry of Finance and Planning (@MoFmv) April 14, 2025
He expressed hope that such initiatives would reduce overcrowding in Male' and contribute to improved living standards in the area.
The Ministry of Finance announced seeking a consultancy firm for the project in March 2023.
During his visit, the CEO of the Saudi Development Fund also signed a USD 17 million loan agreement to support the expansion of the new terminal at Velana International Airport.
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