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.



Saudi PIF, Elm Sign Agreement for Elm to Acquire Thiqah

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo
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Saudi PIF, Elm Sign Agreement for Elm to Acquire Thiqah

The Public Investment Fund (PIF) logo
The Public Investment Fund (PIF) logo

The Public Investment Fund (PIF) and Elm, a leading digital solutions company, have signed a share sale and purchase agreement for Elm to acquire Thiqah Business Services Company – a firm specializing in smart technology solutions for business services – in a deal valued at $907 million (SAR3.4 billion).

Completion is expected once regulatory approvals are obtained and certain conditions are satisfied under the agreement.

According to a PIF statement, the transaction will further support a thriving local information and communication technologies (ICT) ecosystem and contribute to PIF’s strategy which aligns with the Vision 2030 aim of using digital transformation to create the high-skills jobs of the future and further grow the Saudi economy. The deal will enhance the growth of the ICT sector, drive innovation, and localize technologies and knowledge by strengthening Elm to lead the sector at the national level, maximizing the value chain by providing a wide range of ICT products, services and devices.

The ICT sector is among PIF’s strategic priority investment sectors, being a key enabler of other key sectors, including entertainment, financial services, healthcare, transport and logistics, and utilities and renewables, the statement said.

“PIF is committed to enabling the creation of national champions which contribute to driving the development and growth of the Saudi economy. PIF’s sale of Thiqah to Elm will contribute to enhancing the vital role of the ICT sector and will strengthen efforts to localize technology and drive innovation,” Head of Technology and Media, MENA Investments, at PIF Shahd Attar said.

CEO of Elm Mohammad Abdulaziz Alomair said: “This is an important transaction for Elm, as it enhances integration, rationalizes spending, increases profitability, and provides qualitative advantages for both parties and the market.”

“The combined integrated entity will be better able to create advanced national smart services to serve market requirements and clients’ needs. It will also contribute to facilitating innovative operations and capabilities to develop products in the business field with cost advantages while achieving economies of scale,” he added.