The second-quarter 2021 Housing Program Forum, held yesterday in Riyadh, witnessed the signing of three agreements, aimed at providing a range of housing options and appropriate financing solutions to help Saudi families purchase their first home, thereby achieving the goals of the Housing Program—one of the programs under the Kingdom’s Vision 2030—to increase the homeownership rate among Saudi families to 70% by 2030—.
The program also honored a number of key partners—including lenders, developers, and contractors—for their efforts over the past period and their effective contribution to achieving “Sakani’s” targets, in the presence of His Excellency the Minister of Municipal, Rural Affairs, and Housing, Mr. Majid bin Abdullah Al-Hogail.
The first agreement involved providing electronic financing to beneficiaries of the “Sakani” platform in cooperation with the Saudi National Bank and in partnership with the National Housing Company.
The bank was represented at the signing by Majid Hamdan Al-Ghamdi, CEO of Retail Banking, and the National Housing Company was represented by its CEO, Engineer Mohammed Al-Bati.
The second agreement was signed between Azhar Holding Company, represented by Dr. Rakan Mufaq Azhar, and the National Housing Company, represented by its CEO, Engineer Mohammed Al-Bati, to develop the “Bilar” project in the Al-Jawhara suburb —one of the major residential suburbs under the Housing Program in the Jeddah Governorate— The project spans an area of over 74,000 square meters. The third agreement was signed with Fursan Al-Namaa Limited, represented by Khalid Abdulaziz Al-Dubyan, to construct residential units in Makkah on an area of 18,000 square meters.
His Excellency Majid bin Abdullah Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, honored a number of partners in the finance, real estate development, and contracting sectors for their effective efforts in providing the best services to Saudi families through a range of housing options andthat suit their needs and aspirations. Among the awards presented were the Best Contractor Award, won by Al-Fahad Contracting Company; the Best Consultant Award, won by Zuhair Fayez & Partners Consulting; the Best Bank Award, won by Al-Rajhi Bank; and Dar Al-Tamleek was named ”Best Financing Company” for executing the largest number of housing finance contracts during the first half of 2021.
The Saudi National Bank won the award for Best Financing Provider for Off-Plan Residential Units for facilitating contracts for Saudi families benefiting from off-plan units, and Al Rajhi Bank won the award for Best Marketing Offer with the Lowest Interest Rate, SABB Bank won the award for “Most Improved Financing Provider” due to high beneficiary satisfaction rates, while Al Rajhi Bank was named “Best Financing Provider for Real Estate Advisor Services” for converting 70% of recommendations into contracts.
Meanwhile, “Mohammed Al-Zaydi” of Al-Rajhi Bank won the award for Best Sales Representative for converting 60% of offers into contracts. In the real estate development category, seven real estate development companies won the Best Real Estate Developer award, as follows: Dar & Emaar for the ”Saraya Al-Narges” and “Saraya Al-Ghoroub” projects; Al-Diyar Al-Arabiya for the “Louloua Al-Diyar” project; Masar Maya for “Al-Farida”; Al-Muzaini Company for “Al-Jawhara Residence,” Thabat Al-Maskan Company for the “Mad” project, Innovative Investments Company for the ”Al-Biraq Dammam Villas” and “Al-Biraq Al-Mubarraz Villas” projects, and Anan Company for “Ma’ali Anan.”
The Residential Forum for the second quarter also presented five “Advanced Construction” awards to Al-Tahali Real Estate Company, Innovative Investments Company (“Anovest”), and the Development and Management Company, as well as Al-Shaib Engineering Consultancy. The Housing Forum also honored 21 residential real estate development companies for their contribution to the “Jood Al-Aqar” as part of the Jood Al-Iskan platform to provide a number of housing units and financial funds for the construction of suitable housing units in all regions and cities of the Kingdom for the most needy families.
Five engineering design firms won awards for Best Engineering Firms, namely: Dakka Al-Qiyas Engineering Design Company, Saad Al-Humaidani Office, “IQ” Office, Al-Ma’mar Al-Basit Office, and Al-Khalil Office for Design and Construction Management.
It is worth noting that the “Sakani” program for the second quarter of 2021 saw the announcement that 124,208 families had benefited from its diverse housing solutions and options from January through July 2021, including 97,822 families who had moved into their homes, and the inauguration by His Excellency the Minister of Municipal, Rural Affairs, and Housing of the Comprehensive “Sakani” Center in Madinah to facilitate access for Saudi families in the region to housing options and subsidized financing solutions through simplified procedures.