The Ministry of Housing and the Real Estate Development Fund announced the fourth installment of the "sakani" program for 2018, with a total of 21,840 residential and financing products, distributed throughout the Kingdom, as part of the program objectives during the current year, amounting to 300 thousand, for a total of 83562 residential and financing products that where allocated during the first four months.
During the press conference held on Sunday at the Saudi Press Agency, the ministry clarified the details of the products and their geographic distribution. The batch includes the allocation of 7,686 housing units under construction (off-plan sales) in partnership with real estate developers, Qassim region 2148 and Jizan 4170, 160 units in Riyadh and 188 in the Eastern Province. The 5854 free plots of lands are distributed over nine areas including 1845 land in Mecca, 1484 in Najran, 1015 in Asir, 590 in Jizan, 396 in Al Jawf, 224 in the Eastern Province, 125 in Riyadh, 95 in Baha and 80 lands in the Al-Qassim region.
The installment includes 8300 mortgage loans from the REDF in partnership with banks and financial institutions distributed throughout the Kingdom, including 2189 in Riyadh,1346 in Mecca, 706 Madinah, 724 Qassim, 1014 Eastern Province, 610 Asir, 299 Tabuk, 308 Ha'il, 234 Northern borders region, 169 Jizan, 311 Najran, 162 Al Baha, 228 Al Jawf.
Al-Bati: completed handover of ready-made housing units projects.
The CEO of the National Housing Company, Eng. Mohammed Bin Saleh Al-Bati, explained that this installment covers all areas of the Kingdom and offers many options to the beneficiaries in order to meet the wishes of the applicants to the housing subsidy program, pointing out that the ministry aims to accelerating citizens' access to appropriate housing subsidy.
He stressed that the current period is witnessing the continuation of the ministry in handing over housing units in a number of areas of the Kingdom in the ready-made projects, as the citizens being handed their units in each of the Turaif, Thadig, Al-Mabarraz, Al Qunfudhah and Biash housing projects, as we aim in the coming period to continue to hand over all projects that fully reserved in the remaining areas. Pointing out "sakani" program continues to offer a variety of options to the beneficiaries through the launch of booking exhibitions for a number of housing projects that under construction, where the ministry monthly launch at least 5 exhibitions of these units, which are distributed in different areas of the kingdom.
Al Amoudi: New services to fund pensioners and private sector employees.
For his part, the General Supervisor of the Real Estate Development Fund Khalid bin Mohammed Al-Amoudi stressed the Fund's keenness to provide all the facilities to the beneficiaries and provide suitable financing solutions for all those in the Fund waiting lists, noting that the last period witnessed the announcement of self-building product and support for beneficiaries who have additional loan with REDF, by converting it to support loan.
Al Amoudi said during the conference that in the past period, some challenges have been evaluated in the financing of pensioners and private sector employees. Accordingly, appropriate financing solutions have been adopted for them to find new solutions in partnership with banks and finance companies to obtain the mortgage loan program. Medium and small companies, entrepreneurs and retirees with an extension of the repayment period to the age of 70 years, in addition to the launch of the "easy installment" by changing the monthly premium according to the income of the beneficiary so that the deduction rate does not exceed 65% of monthly income after retirement or in the case of a personal loan that he has. Also, the down payment has been reduced from 10% to 5% for the first housing in order to reduce the burden of the advance payment required by the funders. He stressed that these services and previous initiatives aimed to facilitate the services of the REDF beneficiaries and offer the best service for them.