A number of major Saudi companies are planning to construct thousands of residential units for their employees in Jubail Industrial City, a report said.
The Royal Commission for Jubail and Yanbu (RCJY) is preparing to build 8,000 houses before the end of 2016 as a result of the expansion of factories in Jubail Two and Ras Al Khair, added the Arab News report.
RCJY is also building 774 villas in Jalmudah District to be delivered in mid-2015, and 540 by the first quarter of 2016.
Meanwhile, Saudi Basic Industries Corporation (Sabic) is currently building about 1,760 units in Jubail Industrial City, aiming to complete construction by the end of 2016.
The Saudi Aramco Shell Refinery (Sasref) is also constructing 217 housing units for its staff in Jalmudah District, while the Saudi International Petrochemical Company will provide 354 units for its employees in the same district, Arab News reported.
The new housing projects would lower rising rents, according to some developers.