Arab News, Monday, Oct 18, 2021 | Rabi Al-Awwal 12, 1443
Over 86,000 Saudi families benefit from Sakani subsidized loans
Saudi Arabia:
More than 86,000 Saudi
families benefited from the Housing Ministry’s Sakani program subsidized real
estate loans since the beginning of the year till September, the Saudi Press
Agency reported on Sunday.
The program offers two types of subsidized loans,
one for ready-made housing units and the other meant for under-construction
buildings.
Of the total, 69,497 families benefited from the
loan offered for ready-made housing units.
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.
The program also launched new e-services to serve
people effectively.