130,800 Saudi families benefited from Sakani program this year

130,800 Saudi families benefited from Sakani program this year

More than 51,000 Saudi families have already received and lived in their homes.

The Sakani program of the Saudi Ministry of Housing revealed that the number of families that benefited from the housing and financing options provided from the beginning of this year until August amounted to 130,842 families, of which 51,844 families have already received and lived in their houses, pointing out that during August alone, 21,705 families benefited from the financing options. In addition, some 5656 families were able to obtain their housing units.

The program explained in a press release issued on Sunday, that the total housing units under construction, which were reserved by the beneficiaries since the beginning of the year until August amounted to 20,818 housing units, while a number of beneficiaries were handed free land totaling 30,312 plots of land.

The total number of beneficiaries of the subsidized mortgage option for the purchase of a ready housing unit in the same period of this year reached 51,190 beneficiaries, in addition to 27,722 beneficiaries of the mortgage loan subsidized 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-Suwailem pointed out that the ministry is always keen to find appropriate solutions for Saudi families that help them to own the right house for them, noting that the effective partnership with the Saudi Arabian Monetary Agency (SAMA), banks, and financial institutions contributed to facilitate the citizens to obtain appropriate mortgage finance for them, while ensuring the state to bear the benefits of the Mortgage value with support up to 100% for those whose salaries are less than SAR14,000, and reduce the down payment to 5% for the beneficiaries of the program Sakani, with the possibility of installment in residential units under construction.

Earlier this year, Sakani announced the names of 200,000 citizens who could benefit from the various options it offers, including 100,000 mortgage loans supported by the Real Estate Development Fund, 50,000 free land in various regions of the Kingdom, and 50,000 housing units under construction. This is the first time that Sakani announces the names of beneficiaries during the year in one go, in order to accelerate ownership, reduce waiting lists, and provide more housing opportunities 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.