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120,000 housing units for Saudis this year

The King Abdullah Financial District is seen in Riyadh.

The King Abdullah Financial District is seen in Riyadh.

Reuters/FAISAL NASSER

First batch of 'Sakani' program launched

16 February 2017

RIYADH — The Ministry of Housing launched on Wednesday its ambitious housing program called ‘Sakani’ to allot as many as 120,000 housing units to the most deserving citizens all over the Kingdom this year.

This is part of the total 280,000 housing units and financial assistance to be allotted by the ministry.

Prince Saud Bin Talal, adviser and general supervisor at the agency for housing at the ministry, said that the first batch of the ‘Sakani’ program includes 15,653 housing units and financial assistance. These include 2,937 housing units, 5,016 housing plots, and financial support for 7,700 through the Real Estate Development Fund (RDF), in collaboration with the local banks and financial institutions.

Addressing a press conference in Riyadh on Wednesday, Prince Saud said the housing units of various sizes and different prices will cater to the needs of different income groups and sections in society.

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These will be implemented in partnership with the private sector, which is represented by local and international real estate developers.

Apart from 120,000 housing units, the ‘Sakani’ program includes 75,000 housing plots ready for construction, and financial support for 85,000 from RDF and banks.

The housing units and financial assistance will be allotted in monthly installments over a period of three years.

Prince Saud said that the products will be allotted to citizens who applied for homes through the ministry’s website. The allotment will be made based on several criteria.

Priority will be given to the most deserving citizens after counting the eligibility points of each applicant. Similarly, social and financial conditions of applicants will be taken into account.

There will be preference for widows, divorcees, people with special needs, and financially backward citizens.

In the first installment, a total of 2,937 residential units will be allotted in the following cities and regions: Tabuk (891), Hafar Al-Batin (647), Turaif (304), Zulfi (246), Al-Ula (322), Rafha (197), Al-Ahsa (112), Shaqraa (88), Romah (80) and Riyadh Al-Khubraa (50). A total of 5,016 residential plots will be disbursed in the following cities and regions: Madinah (896), Naeeriyah (727), Ghazalah (535), Majma (528), Buraidah (363), Quwaieya (314), Arar (239), Dawadmi (227), Qaryatul Olya (266), Abha (90), Diriyah (111), Tabarjal (86), Qurayyat (83), Baljurashi (64), Sakaka (61), Turba (39) and Wadi Al-Fara (277).

Ayham Al-Yousef, general supervisor of RDF, told the press conference that RDF will announce every month the names of beneficiaries for the residential and financial products. The new mechanism will be instrumental in bringing down the waiting period for housing units from 11 years to five years and increasing the number of beneficiaries of financial support.

© The Saudi Gazette 2017

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