Benefits of the land and loan product
Facilitating ownership for citizens: The product provides a real opportunity for citizens to own and build land at reduced costs compared to market prices, which contributes to increasing homeownership rates among citizens.
Integrated financial support.
Integrated financial support: The product combines the land grant with the mortgage loan, easing the financial burden on families and making the construction process easier through subsidized financing.
Land Choice: The product offers a real opportunity for citizens to own land and build at reduced costs compared to market prices, which contributes to increasing homeownership rates among citizens.
Land Selection: Beneficiaries will be able to choose land within the plans available from the Ministry of Housing and Urban Development, giving them the freedom to choose a location that suits them near the areas where they want to settle.
Stimulating the construction sector. <Stimulate the construction sector: The product contributes to stimulating economic activity by revitalizing the construction sector and increasing the demand for materials and services related to construction operations.
Achieving financial inclusion.
Financial Inclusion: The product contributes to supporting financial inclusion by providing various financing options available to a large segment of citizens, which enhances the financial capabilities of families and makes them more able to invest in the construction of their homes.
Speed of completion: The product contributes to stimulating economic activity by stimulating the construction sector and increasing demand for materials and services related to construction.
Speed of completion: Thanks to government support and direct financing, beneficiaries can start building their homes faster without having to wait as long as in some prefabricated housing projects.
The impact of the land and loan product on the real estate sector
The Land and Loan product plays an important role in moving the real estate sector in the Kingdom, as it contributed to increasing the supply of ready-to-build residential land and increasing the demand for real estate loans. It also helped ease the pressure on government housing projects by enabling citizens to build their own homes directly, which contributes to reducing the gap between supply and demand in the real estate market.
Real estate experts also point out that the program has played an important role in stimulating the real estate sector in the Kingdom. <Real estate experts also point out that the product contributed to enhancing competition between contractors and construction companies, which positively reflected on the quality of construction and reduced construction costs. It also led to the creation of new job opportunities in the construction and engineering sectors, and provided an attractive investment environment for companies operating in the sector.
How to benefit from the land and loan product
<To benefit from the “Land and Loan” product, the citizen must be eligible for housing support through the "Sakani" platform. Here are the steps to get the product:
Register on the Sakany platform: The beneficiary must log in to the Sakani platform (sakani.sa) and register using their Absher account data.
Applying for housing support: After registration, the beneficiary submits an application for housing support and chooses a “land and loan” product from among the available options.
Selection of land: After confirming the beneficiary's eligibility, he can choose the appropriate land from the plans offered on the “Sakani” platform, based on the location and area that suits his needs.
After confirming the beneficiary's eligibility, he can choose the appropriate land from the plans offered on the “Sakani” platform. <Obtaining the mortgage loan: After selecting the land, the beneficiary is transferred to obtain a mortgage loan from one of the banks or financial institutions participating in the program, where the loan is disbursed over the stages of building the house.
Completion of banking procedures: The beneficiary must complete the banking procedures and obtain the necessary approvals to build according to engineering standards that ensure quality and safety.
Start construction: After completing all procedures and receiving the land and loan, the beneficiary can start building his house according to the approved designs and technical conditions.
A radical solution for those who want to own property
Experts believe that the “Land and Loan” product represents a radical solution to the housing issue and provides practical alternatives for citizens wishing to own and build their homes, as this product helps stimulate the real estate market and increases the flexibility of options for beneficiaries, and supports sustainable development programs that aim to achieve housing stability and improve the quality of life of citizens.“The product also contributes to the revitalization of the real estate market and increases the flexibility of options for beneficiaries. The product also contributes to supporting the national economy by stimulating the construction sector and enhancing citizens” confidence in the housing support programs provided by the state, supporting the targets of Vision 2030 to raise the rate of home ownership among citizens to 70%."
<The "Land and Loan“ product represents a paradigm shift in housing finance in Saudi Arabia, as it combines the ownership of land and access to a mortgage loan at the same time, facilitating the process of construction and ownership for citizens. With its positive impact on the real estate sector, the product is a step towards achieving the goals of Saudi Vision 2030 in improving the quality of life and increasing the rates of residential ownership, becoming an ideal solution to realize the dream of a home in a competitive and sustainable environment.
Land and Loan represents a paradigm shift in housing finance in Saudi Arabia.
