The Saudi Arabia-based Dar Al-Arkan Real Estate Development is in talks with the government to provide housing units under the kingdom’s new economic reform plan, according to a bourse statement.

“Dar Al-Arkan announces negotiations with the Ministry of Housing for the signing of a cooperation agreement with the Ministry that aims to provide housing units for citizens. Any significant developments will be announced later,” it said.

According to the economic reform plan, which was announced on Monday, the Ministry of Housing will spend a total of SAR 59.2 billion ($15.8 billion) over five years, through to 2020.

Part of the aim is to ease the country’s shortage of affordable housing.