750 Houses Funded by Saudi Fund for Development, $50M Deal

An agreement signing between Saudi Arabia and Mauritius took place, this morning May 8, at the headquarters of the National Housing Development Company Ltd (NHDC).

This initiative involves the construction of 750 houses, funded with $50 million by the Saudi Fund for Development (SFD), which is equivalent to around Rs 2.3 billion.

Steven Obeegadoo, Deputy Prime Minister and Minister of Housing and Lands, explained that this agreement between the two countries was finalized in 2018 and the 750 units will be added to the 8,000 homes of the New Social Living Development Ltd (NSLD).

Furthermore, Obeegadoo highlighted that 3,000 homes from NHDC will be delivered by the end of the year.

Obeegadoo also mentioned that following the signing of the agreement this morning, visits are planned to the construction sites, allowing Sultan Abdulrahman Al-Marshad, CEO of the Saudi Fund for Development, to learn about the plans for social housing.

He will even be present at the inauguration of the cancer hospital this afternoon, May 8.

Source: Defi Media