Saudi Housing: 21727 residential and financing products for residential beneficiaries during the current month

MediaIn / Agencies / Riyadh March 15, 2018
The Ministry of Housing and the Real Estate Development Fund launched the third installment of the “Residential” program for the year 2018, with a total of 21727 residential and financial products, distributed throughout the Kingdom, within the target of the program during the current year amounting to 300 thousand, bringing the total allocated during the first three months 42241 Residential and financial products.
During the press conference held on Thursday at the Saudi Press Agency, the ministry explained the details of the products and their geographical distribution, noting that this batch includes the allocation of 6296 units under construction (selling on the map), in partnership with real estate developers, distributed in Riyadh by 232 units, And Makkah 5401, Eastern Province 663 units.
The installment includes 8300 mortgage loans from the Real Estate Development Fund in partnership with banks and financial institutions distributed across all regions of the Kingdom, including 2189 in Riyadh, Makkah 1346, Madinah 706, Qassim 724, Eastern 1014, Asir 609, Tabuk 299, Hail B 308, Northern Frontier B 234, Jazan B 169, Najran B 311, Baha B 163, Jouf B 228. In addition to the land distribution of 5347 plots distributed over, Makkah 414, 2299, Hail 80, northern border 554.
The batch included a number of ready-made units of 1784, in Riyadh 787, Qassim 136, Eastern Province 93, Jazan 768, and 5347 developed land in five areas: Medina, 2000 land, Jazan 2299, Northern border 554, 414, and Hail 80 land, all provided free of charge to beneficiaries.
The National Housing Company’s CEO, Mohammed bin Saleh Al-Bati, explained that the program continues to provide more housing options for the beneficiaries of the subsidy. He added that the program continues its policy of increasing the allocation figures in an increasing manner by pumping more products on a monthly basis. The increase in this installment compared to the previous 2.3%.
He pointed out that in conjunction with the allocation of this installment there are 13 exhibitions for booking and inspection in a number of regions of the Kingdom, the ministry aims to provide various options for beneficiaries of housing support, where these exhibitions are attracting beneficiaries to reserve residential units, which vary between units under construction from (Villas, townhouses, apartments) or prefabricated housing units within the Ministry’s projects, stressing the keenness of the ministry to provide these products with high quality and suitable prices ranging from 250 thousand to 750 thousand riyals.
Khalid Bin Mohammed Al Amoudi, General Supervisor of the Real Estate Development Fund, announced the launch of the “Self-Building” product and the modernization of the residential support contract to the “Tripartite Contract”, in line with the needs of citizens benefiting from residential support. The Fund is keen to meet the wishes of the beneficiaries.