Saudi’s ‘Sakani’ programme benefits 19,900 families in May 2020
The report highlighted construction in 58 projects, with more than 100,000 housing units distributed across 16 cities
Saudi Arabia’s Sakani programme has benefited 129,964 families during the month of May, including 10,721 families who moved into their new homes, according to the latest report released by the Kingdom’s Ministry of Housing.
This indicates that a total of 150,366 Saudi families have benefited from the housing and financing options provided by the Saudi Ministry’s Sakani programme in 2020, of which 53,871 families are already living in their new homes.
The remaining beneficiary families have chosen under-construction units, residential plots, and self-building options, according to the state-run Saudi Press Agency.
The report also highlighted construction updates in 58 projects, with more than 100,000 housing units – which comprise a variety of apartments, villas, and townhouses – distributed across more than 16 cities in the kingdom.
In addition, prefabricated housing was completed across 42 projects in the Kingdom, along with the integration of necessary infrastructure, services, and public facilities.
The monthly report also indicated that seven new housing plans were added, providing 2,337 plots of land in six regions across the Kingdom.
Saudi Arabia’s Ministry of Housing aims to increase residential ownership among its citizens to 70% by 2030. More than 57 housing projects at various stages of construction are being developed in various regions of the kingdom.
The programme provides Saudi nationals with access to residential plots, self-construction residential housing, prefabricated housing units, and under construction housing units, among other options.
The Sakani’s digital platforms provide details of the location, features, and prices of the residential units available for immediate and electronic reservation
The programme also offers Saudi citizens who own land the possibility of obtaining a 100% profit-backed real estate loan to build their own homes. It enables Saudi citizens to receive building permits within six months, start constructing within a year, and complete construction of their homes within three years.
During 2020, the Sakani programme aims to serve more than 300,000 families through various housing solutions, by enabling more than 130,000 families to move into new homes, offering Saudi families more than 90,000 plots of residential land, and constructing more than 100,000 housing units in partnership with real estate developers.