The average bookings for Saudi Arabia’s Ministry of Housing “Sakani” projects in partnership with the private sector in Riyadh exceeded 61% of the total units available, during the first nine months of 2020.
The “Sakani” programme has provided 23,000 under-construction housing units in the city of Riyadh, including villas, townhouses, and apartments with suitable amount of space.
The programme has strived to maintain the best quality standards and adopt modern construction techniques and methods in line with the Ministry’s efforts to boost construction techniques and localise the industry.
The programme aims to keep pace with developments In the residential sector, ensure the implementation of projects with high quality and competitive prices, improve the rate of constructing housing units, and accelerate ownership.
So far, the KSA housing ministry has provided 82 projects that include more than 132,000 housing units in various regions and cities of the Kingdom, at prices ranging between $66,670 (SAR250,000) and $200,000 (SAR750,000) within an integrated residential environment.
Saudi Arabia’s Ministry of Housing aims to increase residential ownership among its citizens to 70% by 2030. More than 58 housing projects at various stages of construction are being developed in various regions of the kingdom.
The programme provides Saudi nationals with access to residential plots, self-construction residential housing, prefabricated housing units, and under construction housing units, among other options.
The Sakani’s digital platforms provide details of the location, features, and prices of the residential units available for immediate and electronic reservation
The programme also offers Saudi citizens who own land the possibility of obtaining a 100% profit-backed real estate loan to build their own homes. It enables Saudi citizens to receive building permits within six months, start constructing within a year, and complete construction of their homes within three years, according to the state-run Saudi Press Agency.
During 2020, the Sakani programme aims to serve more than 300,000 families through various housing solutions, by enabling more than 130,000 families to move into new homes, offering Saudi families more than 90,000 plots of residential land, and constructing more than 100,000 housing units in partnership with real estate developers.
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