The Ministry of Housing achieved many and varied achievements during 2019, and the ministry's statistics indicate that 106 thousand families actually lived in their homes during the current year, while 165 thousand families were supported and financed with mortgage loans, and 90 thousand families received free land, this came during the address of the Minister of Housing, Majid bin Abdullah Al-Hogail, recently, «Budget Forum 2020», in which he confirmed that the year 2019 served 300 thousand families who benefited from various housing and financing options. (Real estate financing)
300K households targeted in 2020
Haqeel explained that more than 14 thousand families of developmental housing beneficiaries have obtained housing units on the utilization system, noting that this number of beneficiary families exceeds what was targeted and announced at the beginning of the year, set to serve 200 thousand families.
This number of beneficiary families exceeds the target announced at the beginning of the year, which is set to serve 200 thousand families.
The Minister of Housing revealed that during the next year (2020), the ministry aims to serve more than 300 thousand families by providing various housing and financing solutions and options, provided that at least 130 thousand families live in their homes, in addition to providing more than 30 thousand He pointed out that the integration of the sector system with all its parties, including development, financing and others, has contributed to facilitating the benefit of Saudi families and accelerating their access to housing options that meet their aspirations and suit their capabilities.
125K housing units provided by the private sector
On strengthening the partnership with the private sector, the Minister of Housing emphasized that the sector is a key partner in development, pointing out that the effective partnership and fruitful integration with all parties in the private sector, including developers, contractors and financiers, contributed to achieving many achievements that serve the country and citizens, pointing out that this partnership resulted in the provision of more than 125,000 In 2020, 100,000 new housing units worth 65 billion riyals will be added during the year (2020), and with regard to the development of residential plans, 79 qualified contractors have been working with 79 qualified contractors to implement infrastructure works worth more than 8 billion riyals, and next year more than 90,000 new lands will be provided through the development of 72 new plans.
165 thousand loans worth 78 billion
The Minister of Housing stressed that the completion of the real estate financing system helped the growth in the number of loans provided by banks and financial institutions, which reached more than 165 thousand loans through 14 financing entities worth 78 billion riyals during 2019, adding: "We aspired to reach 12 thousand contracts per month this year, and we reached more than 21 thousand loans per month, and that was last October, and we expect by the end of 2020 to reach 204 thousand new loans worth 100 billion riyals."
The completion of the real estate financing system helped the growth of the number of loans provided by banks and financial institutions.
Developing the real estate market and preserving the rights of the parties
The Minister of Housing touched on the results achieved following the regulation and development of the sector to preserve the rights of all parties, explaining that more than 400 thousand residential and commercial contracts have been documented through the (Ejar) network, 6 thousand owners" associations have been registered, and 33.5 million square meters of real estate units through the "unit sorting" program, in addition to the approval of 99 residential plans with an area of 170 million m2 through the (completion) center, while in the white land fee program, 1.8 billion riyals were spent from the program's revenues to implement the infrastructure of residential projects.
Sakani application for smart devices
Haqeel emphasized that reducing the waiting lists for housing support was a challenge for the ministry during the past period, noting that the ministry was able to overcome this challenge and end the waiting through immediate benefit and entitlement, adding: »Today, any citizen can benefit from the housing option he wants through the (Sakani) application for smart devices, which provides a range of services, most notably immediate entitlement and e-booking," he said, calling on everyone to take advantage of the various services and facilities provided by this application.
"Housing Program" is one of the directions of Vision 2030
Majid Al-Hogail emphasized that the housing sector policies are based on the Kingdom's Vision 2030, which is based on achieving a vibrant society, an ambitious homeland and a prosperous economy, to enable a healthy and prosperous life that provides opportunities for families to own a suitable home
Majid Al-Hogail stressed that the housing sector policies are based on Vision 2030
Saudi Arabia through the "Housing Program", which comes among the vision's programs, which works on several housing policies, including financing and housing support, supporting supply, developing regulations and legislation, and developing services, and the ministry was able to serve more citizens and exceed its targets by activating these policies."
Majid Al Haqeel.
