Experts revealed that the initiatives and programs launched by the Ministry of Housing over the past two years, along with the increase in housing supply and financing, led to a rise in the homeownership rate among citizens in 2017, reaching approximately 50%, in addition to targeting 300,000 beneficiaries in 2018.

The “White Land” fee programs contributed to the development of a number of plots to provide housing units, Furthermore, the “Wafi” off-plan sales program oversaw and monitored a number of projects in various cities to ensure the provision of diverse, high-quality, and affordable housing units. The program made thousands of housing units available, most of which were reserved across multiple projects, The Ministry has also signed partnerships with real estate developers and banks to find housing solutions for citizens registered on the waiting lists of the “Sakani” campaign and the Real Estate Fund.

A number of experts highlighted the government’s focus on housing through the Ministry of Housing’s provision of various housing projects and regulatory programs aimed at upgrading the sector and making it more balanced, as the Ministry delivered approximately 10,000 ready-to-move-in housing units last year, 110,000 housing units under construction, and 75,000 developed plots of land provided free of charge, in addition to announcing the names of 85,000 beneficiaries of the Real Estate Fund who will receive their loans through the fully subsidized financing program.