Saudi Arabia’s Housing Ministry launched, Monday, the first batch of the Sakani 2018 program with 19,481 housing products offered to the beneficiaries.
The Housing Ministry and the Real Estate Development Fund (REDF) recently launched the Sakani 2018 program, which includes a total of 300,000 housing and financing products provided across the Kingdom. The products comprise 125,000 residential units offered in partnership with the private sector and 75,000 developed residential plots of land offered free-of-charge, in addition to 100,000 financing products subsidized through REDF, banks, and financial institutions.
The first batch includes the sale of 6,681 off-plan residential units, 4,500 free-of-charge developed plots of land, and 8,300 subsidized mortgages.
Phase one of the program saw the launch of housing units priced between SAR250,000 (USD66.600) and SAR700,000 (USD186.600), said Soraqa al-Khatib, Director General Real Estate Development at the Ministry of Housing. Khatib added that the ministry, through exhibitions, continues to provide diverse housing options for citizens in order to fulfill their needs, affirming that these exhibitions are witnessing a huge turnout.
Supervisor of the REDF Khaled al-Amoudi asserted that the fund is keen to deal with the waiting lists, noting that the fund aims to serve 100,000 households this year. He mentioned that the past period has witnessed several decisions, including an initiative to transform the ongoing real-estate funding which enables citizens who have real-estate funding loan from commercial banks to benefit from the subsidized funding amount.
The Housing Ministry and the Real Estate Development Fund (REDF) called on citizens to visit the e-portal of Sakani program sakani.housing.sa to know the names of beneficiaries. They also called citizens to visit the housing-support portal eskan.gov.sa and REDF e-portal redf.gov.sa to update their data.