GOSI’s Jubail II housing project nearing completion
The General Organization for Social Insurance (GOSI) is putting the finishing touches to the second phase of its real estate housing project in Jubail covering an area of 580,000 square meters.
The project, an addition to the organization’s group of investments in the real sector here, is expected to be completed by the end of this year. The organization aims to develop its investment portfolio, raising returns that will enable it to fulfill increasing obligations toward its beneficiaries and social security system subscribers in the Kingdom.
The residential project will add more than 288 apartments in over 18 residential buildings consisting of four floors which have a sea view at Al-Defee neighborhood in Jubail Industrial City.
The housing units vary between separate villas, adjoined villas and apartments. There are mosques, kindergartens, parks, shopping centers, gyms and green landscapes that afford leisure opportunities for the residents.
The project includes a total of 696 housing units and is an addition to the first phase of the project which consists of 541 housing units in Jubail Industrial city.
GOSI is committed to moving forward with the project as planned and complying with the Royal Commission’s investment regulations which include ensuring safety at all stages of the project. This commitment has reflected positively on the work of the project reaping benefits for all parties concerned, a statement from GOSI said.
Real estate investments are an important source of revenue for the General Organization for Social Insurance and also support and develop the national economy.
The organization has planned and implemented many real estate projects that have economic feasibility in various regions of the Kingdom.