The “Sakani” program revealed that 175,520 families have benefited from various housing options and solutions from the beginning of 2021 through the end of October, while the number of families who have moved into their homes reached 149,619, as part of “Sakani’s” ongoing efforts to achieve the housing program’s targets —one of the programs under the Kingdom’s Vision 2030—by enabling Saudi families to own their first home and reach a homeownership rate of 70% by 2030.
In a press release issued Monday, the program explained that the preferences of families benefiting from “Sakani” varied: 77,847 families opted for subsidized mortgages to purchase ready-built housing units, 52,339 families who preferred the self-build option, and approximately 26,945 families who chose to utilize residential land within the “Sakani” plans, and 18,389 families benefited from subsidized mortgage loans to purchase residential units under construction.
“Sakani” emphasized that it will continue to provide a variety of housing units and residential land in partnership with qualified real estate developers through simple procedures and immediate eligibility, and by providing a variety of housing services that meet families" needs and preferences, in order to accelerate home ownership among Saudi families, in line with the objectives of the Housing Program—one of the programs under the Kingdom’s Vision 2030 —which achieved its goals by raising the homeownership rate for Saudi families from 47% to 60% in 2020 within four years.
The ”Sakani” website and app provide a variety of housing facilities and services, including real estate advisors, the issuance of real estate transaction tax certificates for first homes, access to quotes from financing institutions, electronic issuance of land contracts, access to architectural design services and ”Certified Contractors,” electronic financing services and the ”Real Estate Marketplace," as well as immediate registration and eligibility determination, and electronic issuance of building permits.
”Sakani” offers 106 projects under construction in partnership with real estate developers, comprising more than 146,000 residential units ranging from villas to apartments and townhouses, most of which are located in seven major residential suburbs in Riyadh, Jeddah, Dammam, Madinah, and Khamis Mushait to provide a modern lifestyle that combines high-quality housing units meeting international standards with a variety of facilities and services that enhance the quality of life forresidents, all at affordable prices averaging 700,000 riyals.
