Housing ministry launches first batch of Sakani 2018

Saudi Arabia’s housing ministry today launched the first batch of the Sakani 2018 program with 19,481 housing products offered to the beneficiaries.

The first batch includes the sale of 6,681 off-plan residential units, 4,500 free-of-charge developed plots of land, and 8,300 subsidized mortgages.

Phase one of the program saw the launch of housing units priced between SAR 250,000 and SAR 700,000, said Soraqa Alkhatib, Director General Real Estate Development at the Ministry of Housing.

All units offered in Jeddah, Riyadh, Abha, Dammam, Khobar and others were full reserved, he said, cited by the official Saudi Press Agency (SPA)

The housing ministry and the Real Estate Development Fund (REDF) recently launched the Sakani 2018 program, which includes a total of 300,000 housing and financing products provided across the Kingdom.

The products comprise 125,000 residential units offered in partnership with the private sector and 75,000 developed residential plots of land offered free-of-charge, in addition to 100,000 financing products subsidized through REDF, banks, and financial institutions.