Cessation of requests to support financing the existing real estate .. and the continuation of the subsidized loan

The Ministry of Housing announced that it would stop receiving requests to support financing the existing real estate starting from the beginning of 2021 .. and confirmed that applying for the subsidized loan to obtain the various housing products provided by the Sakani program is still continuing. She explained that what is meant by the product “Supporting Existing Finance” is the contracts that were signed with the financing agencies in a previous period outside the framework of the Ministry of Housing, while the product of purchase from the market or self-construction and off-plan sales projects are still available and continuous for all beneficiaries of a housing program. More than one million families have benefited from all housing options and financing solutions provided by the “Sakani” program, from the start of the program in 2017 until November 2020, confirming that this number contributed to raising the percentage of residential ownership to 60% and achieving the goals of the “housing program” Emerging from the Kingdom’s Vision 2030.

In a recent statement, the Ministry announced that 356,808 thousand families will be serving, including 122,731 families who lived in their homes at the level of all regions until last November, exceeding the targeted target of 300 thousand families. The solutions varied between purchasing ready-made housing units, units under construction and residential lands within the Ministry’s plans, self-construction for those who own land, in addition to “developmental housing” and real estate tax, so that the total number of beneficiaries exceeds one million families, including more than 409,000 families whose real estate loans were subsidized by a percentage. Up to 100%.

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