The Ministry of Housing has fulfilled the launch of the first installment of the “Residential” program, announcing today that it has provided the residential sector with 15,653 housing and financial products covering all regions of the Kingdom, within the 280,000 housing and financial products announced by the Ministry last month as a target for 2017.

Land, housing products and financing support

<On this occasion, HRH Prince Saud bin Talal bin Badr, Advisor and General Supervisor of the Ministry's Agency for Housing Support and Branches, explained, The Ministry's launch of this first batch, which includes more than 15,000 housing and financing products distributed in all regions of the Kingdom in its various governorates and centers, as it includes 2937 housing units characterized by their high quality, affordable price and various options, 5016 residential land plots, in addition to 7700 financing support through the Real Estate Development Fund in partnership with banks and financing institutions, noting that the Ministry aims to harmonize housing and financing products with the needs of applicants to the housing support portal (Housing), in order to meet all desires in accordance with their financial capabilities.

Specific criteria for beneficiaries

<His Highness explained the method of selecting beneficiaries applying on the Ministry of Housing portal, indicating that it is done according to several criteria according to which those entitled to support are determined and prioritized according to the status of each beneficiary, according to the mechanism of eligibility and priority and the number of points of entitlement for each applicant, taking into account various social cases such as widows, divorced women and those with needs, pointing out that the beneficiary's need in the allocation process comes first, followed by financial ability and available housing products in the region, when the applicant chooses one of the products offered by the ministry for citizens and there is no such option, he is transferred directly to the Khaya.

Distribution of the first installment in all regions

The housing units in the first installment (2937) are distributed in a number of cities and governorates, including Tabuk 891 villas, Hafar Al-Batin 647 villas, Rafhaa 322 villas, Tarif 304 villas, Zulfi 246 villas, Al-Ula 197 villas, Al-Ahsa 112 villas, Shaqra 88 villas, Rumah 80 villas, and Riyadh 50 villas.

The first installment of 2937 villas is distributed in a number of cities and governorates. <While the total number of residential lands (5016) is distributed to Medina with 896 lands, Nu'ayria with 727 lands, Ghazala with 535 lands, Majmaa with 528 lands, Buraidah with 363 lands, Al-Quwayyah with 314 lands, and Qaryat Al-Olaya with 266 lands, and Riyadh Al-Khubra. Olaya 266 lands, Arar 239 lands, Dawadmi 227 lands, Diriyah 111 lands, Afif 110 lands, Abha 90 lands, Tabarjal 86 lands, Qurayyat 83 lands, Baljarshi 64 lands, Sakaka 61 lands, Tarbah 39 lands, and Wadi al-Farra 277 lands.

7700 financing products from the Real Estate Fund

The General Supervisor of the Real Estate Development Fund, Ayham Al-Yousef, said that the financing support for the month of February includes all regions of the Kingdom with 7700 financing support, and targets those who are on the Fund's waiting list, indicating that all beneficiaries can review the banks and financing institutions that have been signed with them.

He pointed out that the Fund will continue to announce the names of those eligible for financing support on a monthly basis as part of the Fund's transformation into a financing institution, noting that the new mechanism will contribute to reducing the waiting period from 11 years to a maximum of 5 years, and achieving support for 6 citizens compared to one citizen in the previous mechanism, while stressing that the smart support mechanism adopted by the Fund takes into account the different age groups, the amount of income and the number of family members.

The Fund's smart support mechanism takes into account the different age groups, the amount of income and the number of family members.