The speech delivered by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz, before the Shura Council has presented the Ministry of Housing with a major challenge.
This is especially true as the Ministry is moving swiftly to provide housing options for citizens in various regions. In 2017, it implemented a number of programs, regulations, and laws, including the “Sakani” program, which aims to allocate 280,000 housing units and financing options across all regions of the Kingdom.
A Major Challenge for Housing
His Excellency the Minister of Housing, Mr. Majid bin Abdullah Al-Hogail, highlighted the speech delivered by the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud—may God protect him—at the opening of the second year of the seventh session of the Shura Council, and the speech’s emphasis on his deep concern for male and female citizens, simplifying procedures, and providing them with more high-quality services—which places upon us all the responsibility and honor of serving the citizens.
and continuous modernization and development
Al-Haqil explained that the speech by the Custodian of the Two Holy Mosques conveyed many noble messages aimed at moving forward on the path of development, modernization, and continuous progress, in addition to his affirmation —may God preserve him—of the private sector’s role in contributing to development as an important national partner, and his emphasis on the wise government’s commitment to ensuring the continuity and support of development, removing obstacles, encouraging domestic and foreign investment, and adopting a strategy of economic diversification to develop a more competitive economic structure.His Excellency also commended the speech’s continued support for the housing and real estate sector, as well as the reference to the establishment of the General Real Estate Authority to regulate, develop, and enhance the efficiency of the non-governmental real estate sector and encourage investment in it in line with economic and social development goals, and to contribute to providing a range of services to citizens, developers, and relevant entities, thereby improving the performance of the real estate sector, increasing its contribution to GDP, and streamlining procedures in line with the strategic objectives of the Kingdom’s Vision 2030.
Supporting the Housing Sector
Al-Hogail stated that the housing sector enjoys unlimited support from the wise leadership, just like other sectors, in an effort to fulfill the aspirations of all citizens and provide them with various services, noting that during 2017, the Ministry of Housing completed a number of programs, regulations, and legislative measures, including the “Sakani” program, which aims to allocate 280,000 housing units and financing options across all regions of the Kingdom, including ready-to-move-in housing units and off-plan units in partnership with the private sector—represented by real estate developers—as well as ready-to-build land and financing supported by the Real Estate Development Fund in partnership with banks and financial institutions.
Supporting Programs
Al-Hogail also discussed other supporting programs, including the “white land” fees implemented in the cities of Makkah, Riyadh, Dammam, and Jeddah, which help stimulate the real estate supply and free up unused land to provide more housing, the “Wafi” off-plan sales program to regulate sales and purchases before and during the implementation of residential projects, thereby providing a variety of housing units at lower costs and higher quality; the “Landlords” Union,“ which aims to promote safe residential coexistence in housing complexes; the ”Ijar” program, which regulates the rental market and protects all parties involved—landlords, tenants, and real estate brokers; in addition to the “Development Housing” program, which targets low-income individuals and social security beneficiaries to provide them with appropriate housing support, as well as other programs characterized by their sustainability within the framework of organizing and managing a balanced and sustainable housing environment that meets citizens’ housing needs.
