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New e-platform opens $1.3bn Saudi housing opportunities

RIYADH, March 21, 2019

Saudi government has announced the launch of a new e-platform "Benna" that will provide major opportunities for developers and contractors to build 10,000 residential units worth SR5 billion ($1.3 billion) across the kingdom.

The e-platfrom was jointly inaugurated by Minister of Housing Majed bin Abdullah Al Hogail and Minister of Commerce and Investment Majid bin Abdullah Al Qasabi.

The key objective of Benna is to enhance the speed of meeting the beneficiaries' needs of the "housing developmental" programme in all governorates of the kingdom, and to enable small and medium enterprises in the construction and building sector to easily review and contribute to these projects, said the statement from the Ministry of Housing.

"Benna" is a flexible and innovative business platform that offers opportunities and projects for the construction of residential units on lands to be presented by developers and contractors across the kingdom in full electronic form, from reviewing the opportunities of construction of housing projects through the stages of technical and financial evaluation until the completion of the contract for implementation, it stated.

Developers and contractors will be able to review all available opportunities in different regions of the kingdom for the purpose of studying and selecting the project and preparing for the preparation of the financial offers, it added.  

Al Hogail pointed out that the housing ministry was keen to provide all solutions and services that are suitable for families of all categories, especially beneficiaries of the "Developmental Housing" Programme in all regions.

The "Developmental Housing" Programme aims to provide adequate housing for these families, and that the launch of the "Benna" platform comes within the framework of accelerating the development of more suitable housing units through small and medium enterprises.

"Benna platform is one of the options offered by developmental housing," said the minister.

"The programme provides housing units by buying from the market or units of the ministry's projects, as well as the construction and building option we have launched today to provide better service to "developmental housing" users," he added.

Dr Al Qassabi said that the launch of such a platform helps boost opportunities for SMEs in the construction sector especially in "developmental housing" scheme.

The "Developmental Housing" is one of the initiatives of the "Eskan" programme within the "Vision 2030", and aims to meet the need of the most needy families in the community of housing and enable them to own the right housing or use it according to their needs, he stated.

It provides residential units either through purchase from units offered in the market or through construction or through the ministry's housing units available in the kingdom, said the minister.

Benna will facilitate the work under the services provided, including review of opportunities, technical evaluation and others, he added.-TradeArabia News Service


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