The Ministry of Housing has revealed three criteria for the savings and ownership program, which is expected to be launched in the coming days and enables low- and middle-income people to obtain housing within five or seven years; the program aims to enable beneficiaries to save the down payment to finance the purchase of a suitable home.
The program includes
Criteria include:
Monthly household income: The participation rate is inversely related to it.
Number of household members: and the participation rate is directly correlated with it.
Number of household members:
Regularity in the program: in order to motivate participants to comply and get a higher percentage of the participation amount.
The Fund's share of the down payment for home purchase ranges from 25% to 150% of the total amount saved. The Fund's share of the down payment ranges from 25% to 150% of the total amount saved.
It is worth mentioning that Dr. Abdulrahman Al-Khayyal, advisor to the Minister of Housing and supervisor of the housing savings program, recently announced that the draft of the housing savings regulation is being discussed in the expert body and is now in its final stages, expecting that the program will be announced soon.
