Sakani program targets 180,000 new families in 2022

Logo of Sakani program

Sakani program announced that it targets 180,000 new families in 2022, through providing them with diversified housing solutions and options, Saudi Press Agency reported. 

The program added that 130,000 out of the180,000 families will reside in their houses this year, noting that over 100,000 subsidized real estate loans will also be provided.

In addition, more than 225,000 families benefited from the program in 2021, and it will continue providing financing and housing services. In addition, the program helps the Saudi families own houses, as part of its diversified solutions provided in partnership with the private sector to fulfill the aspirations of the Saudi families.  

Essam Alghamdi, Deputy Minister of Municipal, Rural Affairs and Housing, said 186,300 families resided in their houses in 2021, bringing the total number of families benefiting from the program to 1.2 million.

He added that there are 112 projects under construction, in partnership with real estate developers, to include over 147,000 diversified housing units at an average of SAR 700,000. 

Meanwhile, Mansour bin Madi, CEO of the Real Estate Development Fund (REDF), highlighted the most prominent achievements of 2021, including signing more than 182,000 financing contracts worth over SAR 114 billion, exceeding the target of 140,000 contracts by nearly 30%.

He added that the total number of subsidized real estate loan beneficiaries reached more than 600,000, with a total value of SAR 33.5 billion, during the period from June 2017 to 2021, in line with the objectives of Vision 2030.