Over 44,000 Saudi families moved to first home in H1 2024: Sakani

Logo of Sakani program 

The Sakani program revealed that 55,000 Saudi families benefited from the program during the first half of 2024, marking an increase of nearly 8% compared to the same period last year, which saw 51,000 families benefiting.

In its mid-year 2024 report, Sakani stated that more than 44,000 Saudi families moved to their first home, compared to 51,350 families during the same period last year.

The housing solutions that families have benefited from since the beginning of this year, which included under-construction units, self-construction, ready units, and the "Your Land, Your Support" initiative. These solutions contributed to the signing of approximately 51,300 financing contracts, with a total value of 5.3 billion riyals, supported by the Real Estate Development Fund in collaboration with banks and financial institutions.

The report also noted that the number of subsidized mortgage loans provided to low-income beneficiaries in the first half of 2024 exceeded 27,000 loans, while the number of low-margin financing contracts with a profit margin of 2.59% for low-income Sakani beneficiaries reached 13,600 contracts.