The Saudi Arabia Ministry of Housing’s “Sakani” programme has benefitted 36,967 families through various housing solutions provided during February 2020, with more than 11,687 families finding homes to live in during the month.
This brings the total number of beneficiaries of financing solutions and housing options to 69,252 families in 2020, of which 23,746 families currently reside in their homes.
Families preferred residential plots, self-construction options, and units under construction within the major residential suburbs.
The total housing units under construction that beneficiaries booked since the beginning of the year amounted to 12,640 housing units.
Meanwhile, 14,109 residential plots of land were delivered in various cities, governorates, and centres in the kingdom, according to the state-run Saudi Press Agency.
More than 25,933 families availed of subsidised real estate loans to purchase a ready housing unit, while approximately 16,570 families benefited from mortgage loans that backed a self-construction option.
The Sakani programme’s online platform provides details of the various housing options and other services, including real estate consultancy, loans, value-added tax for the first residence, support for housing renewal, immediate entitlement, online reservations, obtaining the prices and quotes from financing agencies, as well as electronic signing of contracts.
Commenting on the initiative, the spokesman for the Ministry of Housing, Saif bin Salem Al-Suwailem, emphasised the Ministry’s keenness to accelerate the ownership of housing for citizens, and to provide them with better services, in line with the the Kingdom’s Vision 2030 programme, which aims to raise the percentage of residential ownership to 70% by 2030.
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