The Housing Program issued 3,377 residential land contracts to program beneficiaries last August, as part of its diverse housing and financing options designed to facilitate home ownership for Saudi families, in line with the objectives of the Housing Program—one of the Kingdom’s Vision 2030 initiatives—to raise the homeownership rate to 70% by 2030.
In a press release, “Sakani” explained that the plots included 609 plots in the Riyadh region, 662 plots in the Makkah region, 387 plots in the Eastern Province, 642 plots in the Jazan region, 348 plots in the Najran region, 275 plots in the Qassim region, and 130 plots in the Hail region, 109 plots in the Asir region, 100 plots for “Sakani” beneficiaries in the Al-Jawf region, 64 in the Northern Border region, 43 in the Madinah region, and 8 residential plots in the Tabuk region.
The program noted that this number is an extension of the land previously handed over to families benefiting from housing support in cities and regions across the Kingdom, confirming that procedures for issuing residential land contracts are ongoing in all completed developments, noting that the land plots range up to 500 square meters in size, and that reservation procedures and selection of the appropriate development can be completed through the “Sakani” program’s website https://sakani.housing.sa/plans-map, or the “Sakani” smartphone app; The “Sakani” program’s online portal offers a preview feature, allowing beneficiaries of residential land to select the housing plan that best suits their preferences and needs, as part of the ongoing effort to develop electronic services that facilitate homeownership.
“Sakani” offers a number of housing options and financing solutions to meet the desires and aspirations of families, including access to subsidized mortgages for the purchase of ready-built housing units, and the purchase of residential units under construction within “Sakani” projects in partnership with the private sector, in addition to subsidized mortgage loans for self-construction for those who own residential land.
It is worth noting that the “Sakani” program has benefited more than 124,000 Saudi families from the beginning of the year through July 2021, and the number of families who have moved into their homes has reached 97,000. The program aims to enable more people to own their first home by offering diverse housing options and solutions that meet their aspirations and financial capabilities, thereby achieving the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030.