As part of the Kingdom's drive to increase the ownership rate to 70% by 2030, the Saudi Real Estate Development Fund announced a new mechanism to own homes under construction by providing flexible financing solutions and easy steps, as part of the targets of the housing program; one of the programs of the Kingdom's vision.
The Saudi Real Estate Development Fund announced a new mechanism to own homes under construction by providing flexible financing solutions.
Steps to own homes under construction
Through a tweet on the X platform, Saudi Real Estate Development Fund, under the title “Beneficiary Journey Path for Residential Units Under Construction”, revealed the steps to own a home under construction with innovative financing solutions across the Kingdom of Saudi Arabia, provided that the applicant is eligible to benefit from the financing support provided to obtain a unit under construction, and the steps come as follows:
The steps are as follows:
- The first step is to register on Sakani platform: If the applicant is eligible, he moves to the second step, and if he is not eligible, his journey ends.
- Second Step: Registration in the real estate advisor platform.
- Third Step: Select off-plan units.
- Fourth Step: Choosing the right financing mechanism to own an under-construction unit.
The financing mechanisms vary between 3 methods, namely: Booking a unit through the Sakany platform “Projects”, the off-plan sales contract with the developer, or the financing entity “Signing a contract”.
