The “Sakani” program has seen an increase in the number of Saudi households benefiting from the two options for subsidized mortgage loans to purchase ready-to-move-in and ”under construction” housing units , exceeding 86,000 households from the beginning of 2021 through September, of which 69,497 households benefited from subsidized mortgage loans to purchase ready-to-move-in units, as part of the program’s efforts to facilitate homeownership for citizens and enable them to access diverse housing options and financing solutions that suit their needs, with the goal of increasing the homeownership rate to 70% by 2030 as part of the Housing Program’s targets (one of the programs under the Kingdom’s Vision 2030).
This figure is included in the total number of beneficiary households announced by the program since the beginning of this year, which has exceeded 160,000 households that have benefited from various financing solutions and housing options (self-build, ready-built units, units under construction, land), of which 132,285 families had moved into their homes as of last September, through simple and accessible procedures via the “Sakani” website and app.
The “Sakani” program offers a subsidized loan option to its beneficiaries, with the aim of enabling Saudi families to own their first home by providing support for the purchase of housing units they select from the program’s projects—whether under construction or ready-to-move-in— giving beneficiary families the freedom to choose the locations and designs that suit them, at affordable prices and with high quality, according to their needs and preferences.
Through its website and app, “Sakani” also offers a range of housing options and services via streamlined online procedures with immediate eligibility, including the ability to browse diverse housing options across 106 projects offering more than 146,000 housing units, as well as 223 residential plans providing more than 180,000 residential lots, request price quotes, accessing real estate advisory services, selecting model designs for self-builders, obtaining building permits electronically, accessing online financing, and other services.