More than 51,000 Saudi families have already received and lived in their homes.
The Sakaniprogram of the Saudi Ministry of Housing revealed that the number of familiesthat benefited from the housing and financing options provided from thebeginning of this year until August amounted to 130,842 families, of which51,844 families have already received and lived in their houses, pointing outthat during August alone, 21,705 families benefited from the financing options.In addition, some 5656 families were able to obtain their housing units.
Theprogram explained in a press release issued on Sunday, that the total housingunits under construction, which were reserved by the beneficiaries since thebeginning of the year until August amounted to 20,818 housing units, while anumber of beneficiaries were handed free land totaling 30,312 plots of land.
Thetotal number of beneficiaries of the subsidized mortgage option for thepurchase of a ready housing unit in the same period of this year reached 51,190beneficiaries, in addition to 27,722 beneficiaries of the mortgage loansubsidized for self-construction option.
For his part, the spokesman of the Ministry of Housing, Saif bin Salem Al-Suwailem, stressed the continuation of Sakani program in providing various options to the beneficiaries of Saudi families through easier procedures, more options, and better services, confirming that "Sakani" continues to provide services to beneficiaries according to their needs, desires and abilities in line with the Ministry's keenness to accelerate citizens' ownership of housing and better serve them, in consistent with the Housing Program – one of the Saudi Vision 2030's programs – which aims to raise the percentage of residential ownership to 70% by 2030.
Al-Suwailem added, "As part of Sakani's efforts to provide suitable housing options, construction work continues in 55 residential projects in partnership with real estate developers in various regions of the Kingdom, characterized by prices suitable for a large segment of citizens registered in the lists of the Ministry of Housing, where prices range from 250,000 to 750,000 taking into account its quality and strict adherence to the stages of implementation and delivery to citizens on time, and will be followed by more projects in all areas that provide a variety of residential units, including (villas, apartments, and townhouses) within the integrated housing environment service facilities and infrastructure.
Housing program options for the year 2019
Al-Suwailempointed out that the ministry is always keen to find appropriate solutions forSaudi families that help them to own the right house for them, noting that theeffective partnership with the Saudi Arabian Monetary Agency (SAMA), banks, andfinancial institutions contributed to facilitate the citizens to obtainappropriate mortgage finance for them, while ensuring the state to bear thebenefits of the Mortgage value with support up to 100% for those whose salariesare less than SAR14,000, and reduce the down payment to 5% for thebeneficiaries of the program Sakani, with the possibility of installment inresidential units under construction.
Earlierthis year, Sakani announced the names of 200,000 citizens who could benefitfrom the various options it offers, including 100,000 mortgage loans supportedby the Real Estate Development Fund, 50,000 free land in various regions of theKingdom, and 50,000 housing units under construction. This is the first timethat Sakani announces the names of beneficiaries during the year in one go, inorder to accelerate ownership, reduce waiting lists, and provide more housingopportunities suitable for different segments of society in all regions of the Kingdom.
Through the Sakani program, the Ministry of Housing seeks to enable Saudi families to own suitable housing more easily, quickly and at a lower price through multiple options by offering a range of housing and financing options, in an effort to increase the ownership rate to 70% by 2030 according to the objectives of the program. Housing – one of the Saudi Vision 2030's programs.
