Monday 28 May 2018

Saudi Arabia to hand over 120,000 housing units

RIYADH, February 16, 2017

The Saudi government is set to hand over 120,000 residential units to its citizens across the kingdom under an ambitious housing programme named ‘Sakani’, which was launched on Wednesday (February 15), said a report.

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

Under the Sakani programme, the Ministry of Housing will start alloting the homes to the most deserving citizens this year. There will be preference for widows, divorcees, people with special needs, and financially backward citizens, stated the report.

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, the report said.

Prince Saud the housing project 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, said the Saudi Gazette report.

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

Tags: Saudi Arabia | residential | housing units |

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