21,612 beneficiaries of real estate products in 5th stage



JEDDAH — The Ministry of Housing along with the Real Estate Development Fund announced the fifth stage of the Sakani program for the year 2018.

In this stage, 21,612 people will benefit from housing units and plots of land with financial support distributed across the Kingdom will be provided.

In 2018, some 300,000 products (housing units and plots of land with financial support) will be distributed. Over 105,000 housing units and loans have been provided since the start of this year.

A total of 8,115 housing units are under construction, 7,279 of which are in Makkah region and 836 in the Eastern Province.

A total of 5,197 plots of land have been distributed in Riyadh, Qasim, Eastern Province, Assir, Northern region and Al-Jouf.

Some 8,300 real estate loans have been provided in cooperation with the Real Estate Development Fund, banks and other funding establishments in Riyadh, Makkah, Madinah, Qassim, Eastern Province, Assir, Tabuk, Hail, Nothern region, Jazan, Najran, Al-Baha and Al-Jouf.

Speaking at a press conference in Jeddah Mohammad Al-Batti, the CEO of the National Housing Company, said they have signed agreements with five developers for four projects in Makkah region and one in Al-Jubail.

They will announce seven new projects in Jeddah, two of which will be constructed on the ministry’s land at Prince Fawaz district and five will be constructed on private sector land at different location in the city.

The projects will provide 50,000 housing units inluding villas, townhouses, and apartments.

According to Al-Batti, 40 percent of the previously provided off-map units have been reserved while 70 percent of the ready 4,000 units have all been reserved.

General Supervisor of the Real Estate Development Fund Khalid Al-Amoudi said they continue to provide suitable services to beneficiaries on the waiting list.