The Housing Program works to provide housing solutions that enable Saudi families to own and benefit from suitable houses based on their personal needs and financial capabilities. The program also seeks to improve housing conditions for current and future generations through the provision of suitable and guaranteed financing solutions. This is in parallel with increasing the supply of housing units at reasonable prices within record time, and the implementation of programs specialized in securing housing for the society’s underprivileged. In addition, it develops and improves the legislative and regulatory environment for the housing sector, thus maximizing the sector's impact on the overall economy.
The Housing Program was launched in 2018, with the aim of creating a vibrant environment for families and society as a whole. Since its launch, the program focused on setting new standards for the development of the housing sector in order to enable citizens to obtain various housing options. This support will increase the percentage of Saudi families that own houses.
In the previous stage, the program accomplished significant success, as it was able to facilitate procedures of immediate entitlement for citizens to real-estate, instead of the 15-year waiting period, which doubled the movement of supply and demand in the program and its housing options and contributed to increasing the ownership rate from 47% in 2017 to 60% in 2020.
This was achieved through meeting housing demand by boosting access to adequate real-estate through establishing e-platforms like the “Sakani” platform. The program has succeeded in stimulating supply in the housing sector through effective partnerships with the private sector, represented by real estate developers and house-builders, in addition to the establishment of the National Housing Company and the “Etmam” Center, which facilitated the developers’ journey by providing a comprehensive digital platform. Moreover, the Developmental Housing Program was established as well to fill the gaps in supply for the most underprivileged families, and it worked in partnership with the non-profit sector to establish and rehabilitate more than 350 residential community associations.
The Housing Program also worked on developing and improving regulations as well as regulatory and legislative activities, by establishing the General Authority for Real Estate to be the central regulatory entity for the real estate sector. The program also launched the lease documentation platform "Ejar platform" to regulate the real estate rental sector in the Kingdom in light of its importance in preserving contractors’ rights.
In the next stage, the Housing Program will resume its efforts to increase the percentage of Saudi families owning houses to 70% by 2030. This will be accomplished by targeting the most underprivileged segments of society. the service to society’s segments and further target the most underprivileged segments. In addition, the program will boost the attractiveness of the sector for investment by the private sector in an effort to support the stability and sustainability of the sector under different economic conditions.
H.E. Mr. Majed Abdullah AlHogail
H.E. Eng. Sultan bin Jorais Aljorais
H.E. Dr. Fahd Al-Mubarak
H.E. Mr. Muhammad Al-Nahhas
H.E. Eng. Osama Al-Zamil
Mr. Ahmed Al Sheikh
Sheikh Abdul Rahman Al-Blehed
Eng. Hussain Al-Sudairy
Representative of the Ministry of Interior
Mr. Yasser Al-Qhaidan
Mr. Sami Al-Husseini
Eng. Fahad Al-Sabhan
Mr. Fahad Al-Mansour
Mr. Mansour Bin Madi
Mr. Mansour Abu Thanin
Mr. Nayef Al-Hamdan
Representative of the General Organization for Social Insurance Governor
Representative of National Debt Management Center
Provide Saudi families with the opportunities to own suitable housing
The percentage of Saudis who own a home increased from 47% to 60% between 2016 and 2020.
Abolishing the concept of waiting for housing support from 15 years to immediate entitlement through (Sakani) platform and providing housing and financing solutions to 834K families, including 310K families who inhabited their homes.
Providing adequate housing for families most in need of the benefit system by providing more than 46K housing units in various regions of the Kingdom in partnership with the non-profit sector and more than 350 associations.
Activating the partnership with the private sector by developing more than 141K housing units and strengthening the partnership with all banks and financing institutions to provide 424K subsidized real estate loans to citizens.
The rental sector was developed to protect the rights of the lessor, the lessee and the real estate broker, through the launch of the (Ejar) platform, as the number of documented lease contracts reached more than 1.4 million contracts.
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