In a step that reflects the deep vision of the Kingdom's leadership towards enhancing social stability and realizing the aspirations of citizens to own housing, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud made a generous donation of one billion riyals to Sakan Foundation, represented by the “Joud Housing” platform. This donation is not only a charitable initiative, but also represents a strong push to support the housing sector and boost the movement of the real estate market, and opens new horizons to increase ownership rates among citizens, in fulfillment of the goals of Saudi Vision 2030.
The donation came as a result of the generous donation of one billion riyals to Sakan Foundation, represented by the "Good Housing" platform. <The Crown Prince's generous donation, at his own expense, of one billion riyals in favor of the ownership of deserving families, constitutes an influential turning point in the landscape of the real estate sector in the Kingdom. This direct support from the highest leadership in the country has several dimensions and profound effects on the level of individuals and the macro-economy.
Boosting the ownership rate and achieving the goals of the vision
This donation will accelerate home ownership for deserving families across the Kingdom, supporting the government's drive to raise the home ownership rate to 70% by 2030. The donation strengthens the Development Housing initiatives, which target low-income citizens by providing affordable and suitable housing, thereby closing the housing gap and achieving social justice.
The donation will accelerate the ownership of housing for eligible families in various regions of the Kingdom, supporting the government's drive to raise the percentage of housing ownership to 3TP3T by 2030.
Stimulating the real estate sector and increasing demand
<In economic terms, the donation stimulates real estate activity by increasing demand for housing units, especially those intended for housing subsidy programs. This movement, in turn, stimulates real estate development and contracting companies to increase their real estate production in proportion to the increased need, creating new job opportunities and contributing to GDP growth..
Raising the level of public-private partnership
The donation also reflects the importance of strengthening public-private partnerships in achieving housing development goals. By supporting philanthropic platforms such as Good Housing, developers and investors are encouraged to enter into strategic partnerships with the government sector to support sustainable housing initiatives, boosting confidence and creating a more attractive investment environment.
Stimulating innovation in housing projects
With significant financial support, philanthropic platforms and developers are increasingly able to create new housing solutions, such as affordable and smart housing projects, to suit the needs of different segments of society. This drives the development of more efficient and sustainable housing patterns.
<Promoting social stability and quality of life
The impact of the donation is not limited to economic aspects only, but extends to enhancing family and social stability by providing adequate housing, which reflects positively on quality of life indicators, one of the main pillars of the Kingdom's Vision 2030.
The Crown Prince's donation of one billion riyals in favor of the ownership of deserving families through "Good Housing" is a strategic step with deep humanitarian and economic dimensions, strengthening the housing sector, pushing the real estate sector to new horizons, and laying a basic building block in realizing the dream of ownership for citizens, contributing to building a more stable and prosperous society.
The Crown Prince's donation of one billion riyals in favor of the ownership of deserving families through "Good Housing" is a strategic step with deep humanitarian and economic dimensions.
