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109k Saudi Benefited from Sakani Program in 7 Months

109k Saudi Benefited from Sakani Program in 7 Months

Friday, 16 August, 2019 - 09:00
Riyadh - Asharq Al-Awsat

The Saudi Sakani program, of the Ministry of Housing, revealed in its July report that the total of beneficiaries reached 109,137 including 46,188 who are residing in their houses.

In July, 28,516 households benefited from the funding and housing programs. Also, 7,780 households received their housing units.

The program noted, in a press release, that the total of under-construction housing units that have been reserved by beneficiaries since the beginning of the year until July reached 342,180 units.

Further, a total of 20,572 free lands were handed for their recipients, while the total beneficiaries from the real estate loan in the same period totaled 46,327, in addition to 23,896 loans for those who wish to build their own houses.

Ministry of Housing spokesman Saif al-Suwailem said that Sakani continues to provide its services to beneficiaries to raise the proportion of residential ownership to 70 percent by 2030.

As part of Sakani’s efforts to provide suitable housing options, the program began to implement 55 new housing projects in different regions of the Kingdom, characterized by affordable prices for a large segment of citizens registered on the lists of the Ministry of Housing, he added.

Prices range between SAR250,000 to SAR750,000 (USD66,000 to USD200,000).

Suwailem said that the ministry was keen to find solutions for Saudi families seeking a home, lauding the effective partnership with Saudi Arabian Monetary Authority, banks and funding institutions.

This partnership helped citizens get real estate funding that is suitable for them.

Earlier this year, Sakani announced names of 200,000 citizens who can benefit from the various options, including 100,000 real estate loans, 50,000 free lands and 50,000 housing units under construction.

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