As part of its program to release housing units in the middle of each Gregorian month, the Ministry of Housing will release the second batch of housing units next Wednesday. These include both ready-to-move-in and under-construction units through the “Wafi” program, as well as 6,000 developed residential lots and 7,700 financing products through local banks as part of the partnership program between the Real Estate Fund and local financing institutions.
The number of housing products for this month (March) exceeds 20,000, as part of the Ministry’s offerings announced under the “Sakani,” totaling 280,000 products, ranging from 120,000 housing units in partnership with the private sector—varying in size— based on income criteria and family size, 75,000 residential plots ready for construction, and 85,000 units supported by state-subsidized financing, through a partnership between the Real Estate Development Fund, banks, and financial institutions.
The Ministry of Housing’s new regulation, which sets the middle of each Gregorian month as the date for releasing a batch of housing subsidy recipients through the “Sakani” portal, is important for all parties, including eligible recipients and sector investors such as financing institutions and real estate development companies.
Key Figures and Information in the Housing Roadmap
1.1 million citizens are eligible for housing support.
80% of eligible recipients will be supported through affordable financing programs, housing savings plans, cooperative housing, and affordable housing.
400,000 families with a monthly income of 4,000 riyals.
180,000 families will be eligible for support from charitable organizations.
450,000 citizens can purchase housing units priced between 600,000 and 750,000 riyals.
280,000 diverse housing units in the “Sakani” campaign, including:
120,000 housing units in partnership with the private sector.
75,000 residential plots ready for construction.
85,000 units supported by state-subsidized financing through a partnership between the Real Estate Fund, banks, and financial institutions.
