Saudi's Sakani issues 15,374 contracts for land since mid-March

Published: 12 May 2020 - 12:44 p.m.

The Saudi Arabia Ministry of Housing’s ‘Sakani’ programme has issued 15,374 contracts for residential lands since mid-March 2020, when the period of health precautions and the activation of remote work for all activities and sectors began in line with measures to curb the spread of COVID-19.

The delivery of land falls within the housing options and financing solutions that the Sakani programme offers to its beneficiaries in all regions of the kingdom.

The programme also offers Saudi citizens who own land the possibility of obtaining a 100% profit-backed real estate loan to build their own homes. It enables Saudi citizens to receive building permits within six months, start constructing within a year, and complete construction of their homes within three years.

In 2019, the Sakani programme delivered approximately 90,000 pieces of land in various regions of the kingdom. The programme also aims to deliver more than 90,000 units of residential lands during 2020, as well.

Saudi Arabia’s Ministry of Housing aims to increase residential ownership among its citizens to 70% by 2030. More than 57 housing projects at various stages of construction are being developed in various regions of the kingdom.

The programme provides Saudi nationals with access to residential plots, self-construction residential housing, prefabricated housing units, and under construction housing units, among other options.

The digital platforms provide details of the location, features, and prices of the residential units available for immediate and electronic reservation

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