782Thousand housing and financing options
According to available information, the Ministry of Housing allocated 282 thousand housing and financing options in 2017 and 300 thousand housing and financing options in 2018, including ready-made units within the ministry's projects - units under construction in partnership with real estate developers - free land - subsidized mortgage loans to benefit from buying ready-made units from the market, self-construction and financing the existing loan, to announce that the Residential Program 2019 is eligible for 200 thousand families for all housing options provided by the program.
130 thousand families have already benefited in 2019
According to the ministry's figures, the total number of families who benefited from the program's various options since the beginning of this year until August reached more than 130 thousand families in various regions of the Kingdom, and an increase in loans provided by banks and financial institutions was recorded during the first seven months of 2019 “according to the data of the Monetary Authority” to reach 84,481 thousand with a total value of more than 38 billion riyals, making what was provided during four months of 2019 equivalent to the entire year 2018.The Ministry of Finance also recorded a rise in the number of loans provided by banks and financial institutions during the first seven months of 2019, according to data from the Monetary Authority.
Launching 67 projects providing 122.108 thousand housing units
The most prominent options launched by the ministry until last July are the launch of the self-construction option, which serves citizens who own land and wish to build it themselves by obtaining a subsidized loan, as well as the launch of buying ready-made units from the market, which came in response to the wishes of citizens, as well as the continuation of the delivery of ready-made units and free land, in addition to the continuation of launching reservation fairs for real estate developers“ projects, as until July 2019, 67 projects were launched providing 122.108 thousand diverse housing units in various regions of the Kingdom with emphasis on densely populated cities.
Adopting more than 6 modern technologies
<55 projects have been launched in partnership with developers, providing about 100,000 housing units between apartments, villas and townhouses at prices ranging from 250 to 750 thousand riyals in various regions of the Kingdom.750,000 riyals in various regions of the Kingdom, as well as the activation of modern construction techniques in residential projects, within the framework of the Ministry's keenness to activate construction techniques, localize its industry and keep pace with the development in this field, as more than 6 modern technologies characterized by their high quality and competitive prices have been adopted in 50% of the Ministry's projects in partnership with real estate developers, in an effort to pump more housing units, accelerate ownership and reduce the waiting list, while two housing units were built within two days in each of Riyadh and Dammam.
Launching the Military Support Initiative
<One of the most prominent initiatives launched during the past period is the Military Support Initiative, which comes to facilitate military personnel in the service (on duty) to obtain housing, and applicants to the Ministry of Housing or the Real Estate Development Fund by providing a good additional loan covering 20% of the value of the property and a maximum of 140 thousand riyals in addition to financing them through the mortgage loan program through financing entities with an amount of up to 500 thousand riyals to buy a housing unit or self-build.
Launching the ”Real Estate Advisor“
The launch of the ”Real Estate Advisor“ service is a specialized team that provides the best services to the beneficiaries of the Real Estate Development Fund and the Ministry of Housing to provide the best possible solutions after studying the recorded data and documents attached by the applicant so that the team can overcome all obstacles with the financing agencies so that the citizen can obtain the mortgage loan program easily and easily. The launch of the ”Real Estate Advisor“ service stands out.
Value Added Support Initiative
As for the ”Value Added Support“ initiative, which is one of the programs launched to reduce the cost of owning a suitable housing for citizens, the Ministry of Housing bears the payment of VAT for the first home not exceeding 850 thousand riyals, and more than 80 thousand VAT certificates have been issued on the first home as of the end of last August. More than 80 thousand VAT certificates have been issued as of the end of last August.
Homeownership rates rise
<According to GASTAT data for 2018, the owned housing occupied by Saudi families and using all building materials amounted to (60.49TP3T), of which 51% were constructed with the armed construction pattern, while the growth of households increased to (3.591.098) by mid-August.591,098) as of mid-2018, an increase of (3.43%) compared to mid-2017, while the percentage of rented housing occupied by Saudi families decreased from mid-2017, reaching (37,63%) in mid-2018 compared to (38%) in mid-2017. Development of 52.49TP3T of which (51%) were constructed with the reinforced masonry pattern.
Development of 52 million square meters of white land
More than 411 million square meters in Riyadh, Jeddah, Dammam and Makkah have been taxed and more than 4,500 payment orders have been issued, and the revenues from the fees have been used to implement the infrastructure of residential projects such as the projects of Al-Ayyina, Al-Dawadmi, Hail, Aniza and other projects of the Ministry, in addition to starting the development of about 52 million square meters on which the fees were imposed, and some landowners” partnership with the Ministry to implement residential projects such as ”Dawawein” project in Riyadh and “Tahlia Gate” in Jeddah.
Development of 52 million square meters on white lands has begun.
About 330,000 residential contracts documented in Ejar
About the Ejar electronic network, which includes a unified rental contract that is an executive document that protects the parties to the rental process (landlord - tenant - broker) and includes the residential sector and the commercial sector, and as of July 2019, about 330 thousand residential contracts were documented and more than 14 thousand certified real estate brokers were registered.
About 330 thousand residential contracts were documented and more than 14 thousand certified real estate brokers were registered.
Quality Certificates from the Sustainable Building Program
Among the notable initiatives is the Sustainable Construction Program, which saw the launch of quality certification services for under-construction housing and the issuance of reports for ready-made housing, as well as the platform for owners and sorting of real estate units, which was launched to facilitate the owners of residential units located within residential complexes with common ownership and promote residential coexistence among them. Highlights of the achievements of the Sustainable Construction Program
Ministry of Housing Achievements
782
thousand housing and financing options
Development of 52 million square meters of white land
More than 411 million square meters in Riyadh, Jeddah, Dammam and Makkah have been taxed and more than 4,500 payment orders have been issued, and the revenues from the fees have been used to implement the infrastructure of residential projects such as the projects of Al-Ayyina, Al-Dawadmi, Hail, Aniza and other projects of the Ministry, in addition to starting the development of about 52 million square meters on which the fees were imposed, and some landowners” partnership with the Ministry to implement residential projects such as ”Dawawein” project in Riyadh and “Tahlia Gate” in Jeddah.130,000 families have already benefited in 2019
Launching 67 projects providing 122.108 thousand housing units
Adoption of more than 6 modern technologies
Launching the Military Support Initiative
Launching the “Real Estate Advisor”
Value Added Support Initiative
Rising Home Ownership Rates (Residential Finance)
Development of 52 million square meters of white land
About 330,000 residential contracts documented in Ejar
Quality Certificates from the Sustainable Building Program
Selected real estate news links from News issue178:
Home Finance - Global Real Estate - Home Finance
وزارة العمل تطلق مبادرة تسوية المخالفات في المنشآت المتميزة
الهيئة العامة للزكاة والدخل تحث الشركات الخاضة للضريبة المضافة بتقديم إقراراتها
Housing Finance
وزارة العدل تتيح للعموم أكثر من 10 آلاف حكم تجاري مكتسب القطعية عبر بوابتها الإلكترونية
مكة المكرمة تستعد لاحتضان أكبر فندق «فوكو» في العالم بسعة 4200 غرفة
وزارة التجارة والاستثمار تتيح خدمة تعديل السجل التجاري إلكترونياً للشركات
شركة «الدار العقارية» تنفذ مشاريع إستراتيجية لحكومة أبوظبي بقيمة 5 مليارات درهم
Housing Finance -
Housing Finance
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With the patronage of the Minister of Housing
وزارة الإسكان توقع 600 عقداً مع المستفيدين من مخطط عسفان السكني شمال جدة Riyadh Development Company
Riyadh Construction establishes Tanal Real Estate Investment and Development Company الصندوق العقاري يعلن أن مطلع 2020 سيشهد إعلان آخر قوائم انتظار المستفيدينHousing Finance
