Phase 1 of Sakani's Pearl-Al-Diyar housing project 80% booked out
The project, being developed as part of a public-private-partnership, comprises units starting at $137,300 per unit
The Saudi Ministry of Housing’s ‘Sakani’ programme has revealed that more than 80% of the housing units within Phase 1 of its Pearl-Al-Diyar project have been reserved.
The Pearl-Al-Diyar housing project is located on the Saudi Ministry of Housing’s lands in the northern city of Yanbu al-Bahr, which is 1km away from the Corniche of Yanbu al-Bahr in the Al-Murooj district.
The project is being developed as a part of a strategic public-private-partnership between the Ministry of Housing and real estate developer Aldyar Alarabiya.
The chief executive officer of Aldyar Alarabiya, Naif Al-Atawi, emphasised that 65% of the project include green spaces and service areas, with prices for the housing units starting from $137,300 (SAR 515,000) per unit.
The project is currently witnessing accelerated construction activity – with phases being delivered ahead of schedule – alongside necessary guarantees and quality implementation.
The Saudi Ministry of Housing has called on citizens wishing to benefit from the project to visit the show villas, and book the remaining housing units based on what suits their preferences.
Saudi Arabia’s Ministry of Housing aims to increase residential ownership among its citizens to 70% by 2030. More than 58 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, according to the state-run Saudi Press Agency.
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.