- The program will continue to provide eligible Saudi families with a wider range of options through easier procedures in accordance with their needs
RIYADH: The Ministry of Housing’s Sakani program has helped 24,770 families registered on its Real Estate Development Fund list with housing options and finance solutions during April. This includes 7,990 families who live in their own homes.
The total number of families that benefited from the program in different regions of the Kingdom since the start of the year reached 130,502, of which 44,000 have already moved into their houses. Other families preferred the under-construction housing units in major residential areas, residential lands and self-building options.
This comes within Sakani’s on-going efforts in light of the preventive health measures adopted by the authorities to limit the spread of the coronavirus.
“24,000 under-construction housing units have been reserved in 2020 and 33,000 residential units have been delivered to beneficiaries across the Kingdom,” Sakani clarified in a statement, noting: “More than 44,000 families benefitted from subsidized mortgage loans for finished housing units, while 29,000 families benefitted from subsidized mortgage loans in the self-building category.”
The program is continuing to serve families wishing to own a property through Sakani’s mobile application and website. It also displays the beneficiaries’ national ID numbers on https://sakani-names.housing.sa/, and the electronic platform, which provides detailed information regarding the various housing options.
“The program will continue to provide eligible Saudi families with a wider range of options through easier procedures in accordance with their needs, desires and capabilities. This comes within the ministry’s keenness to accelerate the delivery of housing units to beneficiaries, in line with the housing program, which is one of the programs of the Kingdom’s Vision 2030 that aim at raising the proportion of residential ownership to 70 percent,” said Ministry of Housing spokesman Saif bin Salem Al-Suwailem.
“In order to provide suitable housing options, Sakani is still working on 58 residential projects in partnership with real estate developers across the Kingdom. The prices of these units are favorable and range between SR250,000 ($66,545) and SR750,000. The construction process of these units takes into account the quality of the finished product and strictly respects construction stages and due dates,” Al-Suwailem added.
“Most of these projects are found in the suburbs of modern residential areas where different housing units such as villas, apartments and townhouses benefit from the availability of an array of facilities and services.”