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, \u00abBudget Forum 2020\u00bb in which he emphasized that the year 2019 served 300 thousand families who benefited from various housing and financing options. (Real Estate Finance)<\/p>\n
More than 14,000 families of development housing beneficiaries have obtained housing units under the usufruct system, noting that this number of beneficiary families exceeds the 200,000 families that were targeted and announced at the beginning of the year.<\/p>\n
The Minister of Housing revealed that during the next year (2020), the ministry aims to serve more than 300,000 families by providing various housing and financing solutions and options, provided that at least 130,000 families live in their homes, in addition to providing more than 30,000 housing units with a utilization system by signing contracts worth 11 billion riyals, pointing out that the integration of the sector system with all its parties, including development, financing and others, contributed to facilitating the benefit of Saudi families and accelerating their access to housing options that meet their aspirations and suit their capabilities.<\/p>\n
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, has contributed to achieving many achievements that serve the country and citizens, pointing out that this partnership has resulted in providing more than 125 thousand housing units within 70 projects under construction worth up to 62 billion riyals, while 100 thousand new housing units will be added during the year (2020) worth 65 billion riyals, and in terms of developing residential plans, 79 qualified contractors worked with infrastructure works worth more than 8 billion riyals, in addition to the development of residential schemes.<\/p>\n
The Minister of Housing emphasized 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 165,000 loans through 14 financing entities worth 78 billion riyals during 2019, adding: \u00abWe aspired to reach 12,000 contracts per month this year, and we reached more than 21,000 loans per month, and that was last October, and we expect by the end of 2020 to reach 204,000 new loans worth 100 billion riyals.\u00bb.<\/p>\n
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 400,000 residential and commercial contracts were documented through the (Ejar) network, 6,000 owners\u00ab associations were registered, 33.5 million square meters of real estate units were sorted through the \u00bbUnit Sorting\" program, 99 residential plans with an area of 170 million m2 were approved through the (completion) center, and in the white land fees program, 1.8 billion riyals of the program revenues were spent to implement the infrastructure of residential projects.<\/p>\n
Al-Hogail 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 by benefiting from immediate entitlement, adding: \u00abToday, any citizen can benefit from the housing option he desires through the (Sakani) application for smart devices, which provides a range of services, most notably immediate entitlement and e-booking,\u00bb he said, calling on everyone to take advantage of the various services and facilities provided by this application.<\/p>\n
Majid Al-Hogail emphasized that the housing sector's policies are based on the Kingdom's Vision 2030, which is based on achieving a vibrant society, an ambitious nation and a prosperous economy, to enable a healthy and prosperous life that provides opportunities for families to own suitable housing<\/p>\n
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, the ministry was able to serve more citizens and exceed its targets.\u00ab.<\/p>","protected":false},"excerpt":{"rendered":"
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