With the increasing demand for home ownership and realizing the dream of housing independence, the self-building product is emerging as one of the prominent financing solutions in the Kingdom of Saudi Arabia. It gives citizens the opportunity to design and build their own homes according to their own needs and preferences, with financial support provided by the Real Estate Development Fund and local banks. With the growing popularity of this product, self-building plays a pivotal role in meeting the growing demand for housing units, especially with the objectives of the Kingdom's Vision 2030 to improve the quality of life and strengthen the real estate sector.

Real Estate Fund (REF) explained.

The Real Estate Fund explained that the self-build package allows beneficiaries of the self-build product wishing to build their homes to provide immediate non-refundable support of up to SAR 150,000, in addition to other benefits in partnership with financing entities.

The Fund explains that as part of joint efforts to enable beneficiaries of “self-building” to cover the costs of the initial stages of building their homes, the value of the self-build package will be deposited as a single payment to the beneficiary upon signing the financing contract, in addition to raising the percentage of the down payment that the beneficiary receives upon signing the financing contract with the financing entity from 10% to 25%.

Self-building.

Self-building product is one of the financing solutions provided by the Real Estate Development Fund in cooperation with Saudi banks to enable citizens to build their homes on land they own. This program provides financing that suits the beneficiaries" financial capabilities and allows them to choose designs and contractors in line with their housing ambitions and aspirations.

Self-building is one of the financing solutions offered by the Real Estate Development Fund in cooperation with Saudi banks to enable citizens to build their homes on land they own. <Self-build is a step towards promoting the concept of independence and innovation in Saudi Arabia's housing sector. With significant government support and numerous benefits, this product contributes to realizing the dream of owning a customized home that meets the needs and aspirations of Saudi families. However, success in this project requires careful planning and continuous follow-up throughout all stages of construction, to ensure that the financing is maximized and the desired goals are achieved.

This product comes with a wide range of benefits. This product comes as part of efforts to increase homeownership rates among citizens, as this program supports flexibility in planning and construction, enabling families to build homes that precisely fit their needs.

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Benefits of the self-build product

Freedom to design and build: This product allows beneficiaries to freely design their homes and choose materials and contractors according to their vision, providing a residential experience that is completely customized to the family's needs.

Convenient financing. <Convenient financing: The product offers multiple financing options with competitive interest rates that align with the beneficiaries' financial capabilities, allowing them to start construction without incurring significant financial burdens.

Generous government support.

Generous government support: Self-build beneficiaries receive financial support from the Real Estate Development Fund, which helps reduce construction costs and helps families realize the dream of housing more easily.

Own the land and the decision: The product gives beneficiaries the ability to exploit the land they already own, enhancing the value of real estate investment and increasing the sense of financial security.

Achieving Residential Independence: self-build enables families to quickly move into their new homes without relying on ready-made housing projects, providing flexibility in relocation and stability.

Achieving Housing Independence.

How to get self-build financing

To obtain self-build financing, a citizen must be eligible for housing support from the Real Estate Development Fund and own a buildable plot of land. The steps to obtain financing include:

Registering on the Sakani platform: The beneficiary must register through the "Sakani" platform and apply for financing.

Choosing the financing entity: The beneficiary can choose the bank or financing entity he/she wishes to deal with, based on the financing terms and interest offered.

Getting Approvals: After fulfilling the requirements, the beneficiary obtains the necessary approvals and starts preparing engineering plans and identifying contractors.

Disbursement of payments: The beneficiary will receive the necessary approvals and start preparing engineering plans and identifying contractors.

Disbursement of payments: Payments are disbursed to the beneficiary in specific construction phases, according to the progress of the construction process.