Saudi Sakani Delivers Homes to Over 130,000 Families in 9 Months

Saudi Arabia continues to increase the homeownership rate through Sakani (Asharq Al-Awsat)
Saudi Arabia continues to increase the homeownership rate through Sakani (Asharq Al-Awsat)
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Saudi Sakani Delivers Homes to Over 130,000 Families in 9 Months

Saudi Arabia continues to increase the homeownership rate through Sakani (Asharq Al-Awsat)
Saudi Arabia continues to increase the homeownership rate through Sakani (Asharq Al-Awsat)

Sakani, a Saudi program concerned with housing, has said that 130,400 Saudi families owned their first homes during the first nine months of 2022.

Sakani indicated that it comes within the framework of the program's endeavor to support beneficiaries to achieve the objectives of the housing program and increase the percentage of home ownership to 70 percent by 2030.

It explained that 12.1 thousand families benefited from the options and solutions it provided last September, while 12.9 thousand families received their first home in the same month.

Sakani offers nine new optional support programs within its solutions to Saudi families. The new packages included: the provided support package, the rental package, the furniture package, the self-construction package, and the housing renewal package.

The packages provide the beneficiary multiple flexible solutions by delivering immediate, non-refundable support to beneficiaries of ready-made, under-construction, and self-construction housing units in partnership with The Real Estate Development Fund and financing agencies and real estate developers.

The agency's website and application provide residential facilities and services, which include the real estate advisor, issuance of real estate tax certificates for the first house, obtaining a quotation from financing agencies, issuing e-land contracts, benefiting from the engineering designs service, the e-financing service, and the real estate market.

Meanwhile, the Saudi Ministry of Interior announced that digital transformation directly impacted various aspects and saved over $4.5 billion annually.

The Ministry announced that it succeeded in curbing forgery and manipulations, saving time and effort for beneficiaries on a social level.

The statement noted that, environmentally, 35,000 trees were preserved with 559 million leaves. Carbon emissions were also reduced by 500 million kilograms between 2018 and 2020, and more than 5.1 trillion gallons of water were saved during the same period.

The Ministry also presented many technical and digital achievements during the GITEX Technology Week 2022 in Dubai, which contributed to raising the quality of life for citizens, residents, and visitors to the Kingdom.



Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program

Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
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Pakistan Sees Economy on Long-Term Recovery Path Under IMF Program

Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)
Pakistan's Prime Minister Shehbaz Sharif speaks during the World Governments Summit in Dubai, United Arab Emirates, Tuesday, Feb. 11, 2025. (AP Photo/Altaf Qadri)

Pakistan's economy is on a path to long-term recovery, thanks to a stabilization program backed by the International Monetary Fund, Prime Minister Shehbaz Sharif said, ahead of a first review of a $7 billion bailout set for early in March.

The comments came in Sharif's meeting on Tuesday with managing director of the IMF, Kristalina Georgieva, on the sidelines of the World Government Summit (WGS) 2025 in Dubai, his office said in a statement.

Sharif underscored the progress made under the IMF's Extended Fund Facility (EFF), which has played a key role in stabilizing Pakistan's economy and set it on the path of long-term recovery, it added.

A three-member IMF mission is currently in Pakistan to conduct a Governance and Corruption Diagnostic Assessment under the country's 2024 Extended Fund Facility program.

On Tuesday, the team met with Pakistan's Chief Justice Yahya Afridi to get details regarding the judicial and regulatory system of the cash-strapped country.

In a post on X, Georgieva said, “I am encouraged by their strong commitment to Pakistan's IMF-supported reforms and support their decisive actions.”

These would help pave the way to higher growth and more jobs for Pakistan's youthful population, she added.

Ahead of the IMF review, the government and central bank have expressed confidence about meeting its targets, even as Pakistan struggles to navigate the recovery, following the bailout secured in September.

Tuesday's meeting focused on the macroeconomic stability brought by the government's reform agenda under the IMF program and efforts to maintain fiscal discipline, Sharif's office said.

He vowed to keep up the momentum for reform, particularly in areas such as taxes, energy efficiency and private sector development, it added.