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Ministry of Housing and Riyadh Chamber Discuss Establishing the First Independent Endowment Fund for Charitable Housing

Wednesday 12 April 2017

​​In the presence of H.E. Minister of Housing, Mr. Majed Al-Hogail, and Chairman of Riyadh Chamber, Eng. Ahmed Al-Rajhi, Riyadh Chamber and the Ministry of Housing concluded a cooperation agreement on housing for GOSI recipient families. The agreement referred to the research made by both parties for the establishment of the first independent endowment fund for charitable housing in the KSA and called for prospective endowers to place part of their endowments for such projects. The agreement was signed by Mr. Abdullah al-Nimri, advisor, general supervisor and facilitator of the cooperative housing, for the Ministry, and Mr. Abdullah Al-Ajlan, board member and chairman of the endowments' committee, for Riyadh Chamber. Mr. Al-Nimri explained that the conclusion of the agreement was part of the Ministry's quest to benefit from the efforts of the Chamber, represented by the Endowments' Committee for cooperation in housing for GOSI recipient families and exchange of information between the two parties. For his part, Mr. Abdullah Al-Ajlan said that signing of the agreement constitutes an important step to implement the directives of the Kingdom's future vision 2030 and harness the Chamber's potentials to contribute effectively to its success.