The Ministry of Housing announced today the details of the seventh installment with a total of 25,048 housing and financing options. <During the press conference held in Riyadh today, the Ministry of Housing explained that its new housing option of “buying ready-made housing units from the market” allows beneficiaries who are on the waiting lists in the Ministry of Housing and who wish to benefit from this option to register their wishes through the electronic portal of ”Sakani”, indicating that all registered requests will be dealt with and verify that their owners do not benefit from the allocation of a previous housing option, in addition to matching the financing conditions with them, in preparation for transferring them to banks and financing institutions The Ministry will continue to launch the option of self-building for the beneficiaries of the ministry during the coming period, noting that these steps come within the framework of providing more options for citizens to enable them to obtain the appropriate housing that meets their desires and suits their capabilities, raising the percentage of residential ownership to 60% by 2020 and 70% by 2030 in accordance with the objectives of the “Housing Program”.
The Ministry also emphasized that the royal decision to “bear the value-added tax on no more than 850 thousand of the value of the first home” has an effective role in easing the burden on citizens and facilitating their access to housing, noting that the electronic portal (vat.housing.sa) is available to all citizens wishing to own their first home, whether they are beneficiaries of the Ministry of Housing and Real Estate Development Fund or others, through which they can issue a certificate of “bearing the value-added tax” according to electronic procedures characterized by its clarity and ease.
On the details of the housing options, it is worth mentioning that the Ministry of Housing and Real Estate Development Fund (REDF) will be able to issue a VAT certificate. <Mohammed bin Saud Al-Ghazwani, Undersecretary of the Ministry of Housing for Real Estate Development, explained that the housing units of this batch specifically targeted the Makkah region with 8,200 different housing units, noting that the “Residential” program is keen to provide units in all regions with a focus on densely populated areas that witness a higher level of demand for housing subsidies, noting that the “Residential” program is keen to provide units in all regions with a focus on areas with a higher level of demand for housing support. He pointed out that all housing units provided by the program are characterized by their quality and diversity of models and designs between villas and apartments, at prices ranging from 250 thousand to 750 thousand riyals, to meet the desires of different segments of society, while residential lands were distributed in 7 regions with a total of 8548 lands, including 4071 lands in Makkah, 1477 in Asir, 989 in Qassim, 717 in Jizan, 669 in Sharqiya, 500 lands in Medina, and 125 in Al-Baha.
<Al-Ghazwani pointed out that the “Residential” program continued during the past period to deliver a number of ready-made housing units as well as free land to beneficiaries who were allocated to them in previous batches of the “Residential” program in various cities, governorates and centers, stressing the continuity of delivery operations during the coming period, while he pointed out that the exhibitions of projects under construction He pointed out that the exhibitions of under-construction projects carried out by the company with qualified real estate developers are witnessing an increase in the percentage of bookings, indicating that they have so far reached about 43% for more than 50,000 various housing units that were offered for reservation during the past period, and more exhibitions continue to be launched to invite the beneficiaries allocated to complete their procedures.
Khaled Al-Amoudi, General Supervisor of the Real Estate Development Fund, confirmed that this batch of 8300 mortgage loans included all regions of the Kingdom based on waiting lists, where most of them came in Riyadh with 2190 loans, then Mecca with 1346 loans, and the Eastern Province with 1014 loans, noting that the Fund is keen to provide appropriate solutions for beneficiaries through a range of services and facilities such as the “Know Your Role” service and the service to obtain approval to accelerate the issuance of the mortgage loan if the beneficiary is ready, in addition to housing support for military personnel in service.
Al Amoudi pointed out that the Real Estate Fund, through its partnership with banks and financial institutions, is keen to provide all options for beneficiaries, as they can obtain a loan to buy ready-made or under-construction housing units, as well as self-construction and financing the existing loan, in order to serve all categories of waiting lists and contribute to accelerating their access to loans.
At the end of the conference, Al Amoudi signed a contract with the Ministry of Housing and Urban Development. <At the end of the conference, the Ministry of Housing signed an agreement with King Abdullah Economic City to implement 8,000 housing units for beneficiaries of the “Residential” program. The Ministry of Housing and the Real Estate Development Fund invited beneficiaries to visit the Sakani program portal (sakani.housing.sa) to view the list of names allocated for this month, as well as view the details of the projects, as well as visit the housing support portal (eskan.gov.sa) and the Real Estate Development Fund portal (redf.gov.sa), to complete the necessary procedures, update data and approve the allocated product.
At the end of the conference, the Ministry of Housing signed an agreement with King Abdullah Economic City for the implementation of 8,000 housing units. On February 5, 16 government agencies announced the launch of the “Housing Program”, one of the programs to achieve the Kingdom's Vision 2030, which aims to provide housing and financing solutions for Saudi families, aiming to raise the ownership rate to 60% by 2020, and reach 70% by 2030, and through the program will implement many initiatives that provide integrated housing solutions for citizens to obtain the appropriate housing option for them, through the concerted efforts of these agencies.
The program will implement many initiatives that provide integrated housing solutions for citizens to obtain the appropriate housing option for them.
