Nine income brackets eligible to receive Sakani housing support

Logo of Sakani program

Nine income brackets starting SAR 3,000 to over SAR 10,000 will reportedly benefit from Sakani updated housing support program, according to Akhbaar24.

The support amount will depend on the beneficiary’s net income excluding insurance fees. The monthly support amount will be calculated as a percentage of the beneficiary pay and will decrease as the pay increases.

Such a mechanism will be applied on housing contracts submitted before Feb. 19, 2023, or maximum one month before launching the updated program. Loans may be transferred to the contracts signed after launching the updated program, while the other contracts will be subject to the previous support program.

The following table illustrates the tranches entitled to benefit from the updated support program:

Sakani Program launched yesterday, Feb. 20, the updated housing support program to fulfill the needs of beneficiaries, based on their capabilities and needs to own appropriate homes.

In an official statement, Sakani said the updated version of the program offers various privileges and options for housing and financing needs to cater for all categories of beneficiaries and the neediest.

The updated housing support scheme offers various solutions to beneficiaries, including an immediate nonrefundable financial support of up to SAR 150,000, in addition to in-kind support for residential units under construction, and exemption from the real estate transaction tax.  

It also provides beneficiaries with several programs for home ownership, such as easy mortgage and mortgage guarantees among other financing and housing solutions. These programs are provided for the products of off-plan sales, pre-fabricated units, self-construction, and your land is your support. The updated version of the program also offers the “design your support” service which allows beneficiaries to design their housing support options in line with their needs and the target ownership.