The number of citizens registered on the online portal for the government’s value-added tax (VAT) subsidy for first homes has reached approximately 22,000.
This was revealed by the CEO of the National Housing Company, Engineer Mohammed bin Saleh Al-Bati,
Al-Bati explained that the issuance of certificates has begun for approximately 6,000 of those who met the eligibility criteria, adding that the figures and indicators point to high demand for home purchases and ownership.
Last January, the Custodian of the Two Holy Mosques issued royal decrees stipulating that the state would cover the value-added tax on the purchase price of a citizen’s first home, provided the price does not exceed 850,000 riyals.
On July 10, the Ministry of Housing launched an online portal to register applications and issue eligibility certificates for the VAT exemption initiative for first homes, available to beneficiaries of the Ministry, the Real Estate Fund, or others.
