Arab News: Saudi Arabia has launched 2,957 new free lands for eight housing schemes under the government’s Sakani program that aims to boost the home ownership of its nationals.
The eight schemes are distributed in five regions, namely Riyadh, the Eastern Province, Madinah Munawwarah, Makkah Al-Mukarramah, and Aseer Province, according to the Saudi Press Agency.
Beneficiaries wishing to benefit from the free lands can visit the electronic portal of the Sakani program’s website, it said.
The website sets out several housing and financing options, including ready-made housing units and units under construction in partnership with qualified real estate developers.
In 2017, the Ministry of Housing and the Real Estate Development Fund formed the Sakani program to facilitate home ownership in the Kingdom, by developing new housing stock, allocating plots and homes to nationals and financing their purchase.
In line with the Kingdom’s Vision 2030, the program contributes to achieving the objectives of the housing program to raise the proportion of home ownership of Saudi families to 70 percent by 2030.