"Sakani" succeeds in achieving its target for the second year by providing more than 300 thousand residential and financial option for citizens.

"Sakani" succeeds in achieving its target for the second year by providing more than 300 thousand residential and financial option for citizens.

"Sakani" succeeds in achieving its target for the second year by providing more than 300 thousand residential and financial option for citizens.

15.12.2018

Characterized by diversity and comprehensiveness for all regions and segments.

"Sakani" succeeds in achieving its target for the second year by providing more than 300 thousand residential and financial option for citizens.
 
"Sakani" Program of the Ministry of Housing concluded its targets of housing and finance options for the year 2018, announcing today that it has reached 300,000 housing and financing options in all regions of the Kingdom, including ready-made housing units within the Ministry's projects as well as units under construction in partnership with qualified real estate developers, Free land, and real estate loans (subsidizes loans)in partnership with banks and financial institutions to benefit from buying ready-made units from the market options, self-building of land owners, or financing of existing mortgage(additional loan).

The announcement of this target is an extension of what was achieved last year 2017 by providing more than 282 thousand residential and financial options for the beneficiaries of housing subsidy from those who registered in the Ministry of Housing and Real Estate Development Fund, bringing the total options injected by the "sakani" program in two years only more than 583 thousand option, In line with the Ministry of Housing's policy of providing diverse housing options at the right price and quality, and the objectives of the Housing Program, one of the Saudi Vision 2030 programs, to increase homeownership to 60% by 2020 and to 70% by 2030.

The second and final installment of this year's program included 14,789 options scattered over Mecca region with 1240 units, 1346 subsidizes loans, 656 units in Riyadh, 2189 loans, 1210 units in the Eastern Region, 1414 loans, , 504 units in the Tabuk region, 299 loans, 327 units in Najran city, 311 loans, in Qassim 206 units, 724 loans, Medina 707 loans, Ha'il 308 loans, northern borders 234 loans, AL Jawaf 228 loans, Jizan 159 loans and in AL Baha 162 loans.

The General Supervisor of Real Estate Development at the Ministry of Housing, Mohammed bin Saud Al-Ghazwani said during the press conference held in Riyadh today to announce the achievement of the target, that achieving this milestone was a result of the diligent and continuous work of the Ministry of Housing and Real Estate Development Fund and their partners from developers and financiers to provide various solutions and options that suits all segments of society.

Al-Ghazzwani pointed out that the delivery of ready-made options including housing units and free land is ongoing, noting that thousands of units and land have been handed over to citizens during the last period in AL Khobar, Al-Ahsa, Al-Uyayna, Qunfudhah, Khurma, Bisha, Samatah Al Gofol, Zulfi, UnaizaH, Ha'il and others. Within a maximum period of 3 years from the date of the signing of contracts with the developers of real estate, indicating that so far has been the implementation of more than 30 projects in the Kingdom on the Ministry and private sector territory to provide an integrated residential environment in terms of infrastructure and various service facilities, and different models of residential units that are characterized by quality, including villas, apartments and Town House at prices ranging between SAR 250 thousand and 750 thousand.

For his part, the General Supervisor of the Real Estate Development Fund Khalid bin Mohammed Al Amoudi said that REDF succeeded in issuing 100 thousand loans in partnership with banks and financial institutions during this year. More than 53,000 families have been served to benefit from various options, Ready and self-building and financing the additional loan, pointing to the continued service of citizens through a number of facilities that allow them the possibility of providing obtain their loans when they ready.

Al Amoudi ensure that the real estate fund has managed to reduce the waiting list by 48% in two years through "sakani" program, noting that REDF is keen to provide all the financing solutions that fit all segments of society, and the "real estate adviser" service which launched by the Fund recently aimed at serving all the beneficiaries and make recommendations to them to facilitate the journey of first house ownership, pointing out that the real estate consultant provided during the exhibition "sakani Expo" last month for more than 15 thousand beneficiaries in 8 days, while continuing to provide services to the rest of the beneficiaries on a daily basis through a number of communication network, including websites and text messaging as well as direct contact.

The Ministry of Housing and the Real Estate Development Fund called on citizens to visit the Sakani website for sakani.housing.sa for their names of this month, visit the Housing Subsidy Portal eskan.gov.sa and the REDF.gov portal. sa to complete and update their personal data in preparation of their service.