The Ministry of Housing’s “Sakani” program added five housing plans; accessible through its electronic portal and smartphone application. This is to provide 2,009 plots of residential land to Saudi nationals looking to reserve land to own a home.
The latest housing plans takes the total to 173,434 plots of land provided; through Sakani’s 197 plans aimed at facilitating home ownership.
As part of the 5 housing plans launched, the “Afif 843” scheme in Afif governorate will provide 934 residential plots; the “254 scheme” in Al-Hariq governorate will provide 61 plots of land; and the “411 scheme” in the Al-Majmaah governorate will provide 52 residential plots of land; a report in Construction Week said.
In addition, the first “Umm Kadad Plan” in the Hafr Al-Batin governorate will provide 759 plots of land. While the “Rawh Al Janoub” scheme in the Khamis Mushayt governorate will provides 203 residential plots of land; all of which are available for online reservation to Saudi citizens.
The ministry aims to increase residential ownership among its citizens to 70% by 2030. More than 58 housing projects at various stages of construction are being developed in various regions of the Kingdom.
The program provides Saudi nationals with access to residential plots; self-construction residential housing; prefabricated housing units; and under construction housing units, among other options.
The Sakani’s digital platforms provide details of the location, features, and prices of the residential units available for immediate and electronic reservation.
100% profit-backed real estate loan
The program also offers Saudi citizens who own land the possibility of obtaining a 100% profit-backed real estate loan to build their own homes. It enables Saudi citizens to receive building permits within six months, start constructing within a year. Besides, completing construction of their homes within three years, the report said.
During 2020, the Sakani program aims to serve more than 300,000 families through various housing solutions; by enabling more than 130,000 families to move into new homes; offering Saudi families more than 90,000 plots of residential land; and constructing more than 100,000 housing units in partnership with real estate developers.