Saudi Arabia’s Sakani housing program is expanding into residential towers in Riyadh for the first time, marking a shift toward diversifying housing options and increasing residential supply in the capital to meet growing demand driven by population and urban growth.
The initiative, launched by the Ministry of Municipalities and Housing, aims to broaden homeownership opportunities by offering apartments in high-rise developments at strategic locations, supporting the Housing Program and Saudi Vision 2030.
A key Vision 2030 target is to raise the homeownership rate among Saudi families to 70 percent by the end of the decade through increased housing supply, diversified financing solutions and stronger private-sector partnerships.
Sakani announced Tuesday that Makanah, developed by Almajdiah, will become the program’s first residential tower project. The 33-story development combines Salmani architecture with contemporary design and offers apartments and penthouses in a prime location near major Riyadh landmarks.
The ministry recently said that 51,072 Saudi families had moved into their first homes between the start of 2026 and the end of May. During the same period, 38,471 families benefited from housing support services.
Since Sakani was launched in 2017, the number of subsidized housing contracts issued to Saudi families has reached 1,040,215 through the end of May 2026.
Riyadh accounted for the largest share, followed by Makkah, the Eastern Region and Jazan, reflecting strong demand for housing support across the Kingdom.
The ministry said its strategy extends beyond promoting homeownership to developing integrated residential communities that enhance quality of life and create sustainable urban environments in line with Vision 2030.
Saudi homeownership reached 66.24 percent by the end of 2025, marking continued progress toward the Housing Program’s target of 70 percent by 2030.
The ministry reaffirmed its commitment to expanding housing supply by launching additional residential projects in partnership with the private sector across the Kingdom, with the aim of meeting demand, supporting a balanced real estate market and fostering thriving communities.
