RIYADH: A total of 175,520 families benefited from the various housing solutions offered by the Saudi Housing Ministry’s Sakani program since the beginning of this year until the end of October, the Saudi Press Agency reported.
Of the total, 149,619 families have reported moved to their new homes purchased through the ministry’s program.
The program offers two types of subsidized loans, one for ready-made housing units and the other meant for under-construction buildings.
The Ministry of Housing and the Real Estate Development Fund formed Sakani in 2017 to facilitate homeownership in the Kingdom through the creation of new housing stock, allocating plots and homes to nationals, and financing their purchase. It has a goal of reaching 70 percent homeownership by 2030.