The “Sakani” program announced that it had issued 664,897 certificates exempting first-time homebuyers from real estate transaction tax from the program’s inception through the end of last April, A report released by the program this May revealed that 8,856 families benefited from the program last April, while 12,375 families moved into their homes, by taking advantage of the subsidized mortgage option to purchase ready-to-move-in and under-construction residential units within “Sakani” projects, the self-build option, and residential land available through the “Sakani“ website and app ."
4 New Residential Projects
The ”Sakani“ report included details on 4 residential projects launched by the National Housing Authority in Riyadh, providing approximately 5,000 housing units, It also included construction updates on more than 92 projects providing over 120,000 housing units currently under construction, which were initiated in partnership with private-sector real estate developers across all regions and cities of the Kingdom as part of 119 projects providing approximately 155,000 units including apartments, villas, and townhouses, with average prices of 750,000 riyals.
Residential Land and Master Plan Development
The report addressed residential land and master plan development, noting that the "Sakani“ website and app allow users to reserve land and issue contracts electronically, across 223 residential development plans offering more than 180,000 residential plots distributed across various regions and cities of the Kingdom. These can be viewed by visiting the online platform for the "Sakani“ program“.
“Sakani” online services
The report also highlighted the “Sakani” e-services provided by the “Sakani” app and website with ease and convenience around the clock, ranging from registration and immediate eligibility, to browsing housing options, financing offers from 18 partner institutions, immediate reservation of units and land, issuance of land contracts, real estate advisory services, “Real Estate Market” options, model designs for self-build beneficiaries, electronic issuance of building permits, approved contractors, and other services.
