Itqan Real Estate organized a ceremony last week to mark the launch of its new brand identity and headquarters, coinciding with the fifteenth anniversary of its founding. The event was attended by a large gathering of investors, businesspeople, real estate professionals, and members of the press and media.
Itqan had previously released a report titled 91 Years in the Kingdom: Real Estate on the Rise," which contains 42 papers, each addressing the significant transformation the Kingdom’s real estate market has undergone since its founding by the Founding King—may God have mercy on him—up to this auspicious era marked by achievements and contributions, as reflected in the statistics.
Compiled by a specialized team at "Itqan,“ the publication highlights the advantages of real estate in Saudi Arabia and the market’s strengths, strategic solutions to serve the Kingdom’s real estate sector, real estate programs and products, and real estate financing through a detailed account.
The publication also highlighted the "Sakani,“ which offers diverse solutions to enable those registered on the Ministry of Housing and Real Estate Development Fund’s lists to choose the appropriate type of housing, its contribution to increasing homeownership rates, and financing solutions tailored to citizens“ needs.
The publication addresses real estate financing and the procedures involved, including reducing the down payment for a first home from 10% to 5%, the introduction of flexible installment plans, the provision of a higher financing share for home purchases, and the launch of an initiative allowing new and existing borrowers to apply for long-term mortgage loans at fixed interest rates.
The issue concludes with statistics on mortgage contracts totaling more than 14 billion riyals in 2020, statistics from the Saudi Central Bank, as well as figures on loans granted by banks to individuals and companies, and the subsidized mortgage program, which reached 220,000 subsidized contracts and received 1,100 daily applications for the purchase of ready-to-move-in residential units on the market and off-plan units.
It is worth noting that “Itqan Real Estate,“ a leader in real estate marketing, has successfully managed dozens of real estate auctions worth billions and a number of direct-sale real estate transactions in various cities across the Kingdom during its 15-year journey in the promising Saudi market, which is witnessing significant development with the launch of Vision 2030, which seeks to open the Kingdom to the world and attract real estate and industrial investments to make the Kingdom a global hub for business and investment.
