‘Sakani’ Program Contributes to Real Estate Market Rectifications

‘Sakani’ Program Contributes to Real Estate Market Rectifications

Wednesday, 16 May, 2018 - 13:15
Riyadh - Asharq Al-Awsat
Sakani (housing) program in Saudi Arabia announced the completion of booking 70 percent of ready-made units, which were customized for individuals in the first phase of the program.

It also finally completed the procedures of booking and inspecting in a number of projects launched during the current period in several cities, including Riyadh, Dammam, Khobar, Ahsa, Jawf, Yonbu, Araar, Dawadmi and Kharma.

These projects have amountged to a total of over nine thousand housing units, at prices ranging between 250 thousand riyals ($666 thousand) and 750 thousand riyals ($200 thousand), and diverse spaces and designs to meet the needs of beneficiaries from housing support.

Economists confirmed that the recent housing offers contributed significantly to the provision of housing and played an important role in restoring the real estate market to the right levels after the prices were so high to an extent that it was no longer possible for many people from different social classes to obtain residents.

Economic expert Dr. Salem Baajaja explained that providing residential offers through "Sakani" campaign led to the fulfillment of a large demand on housing units.

This is important in the context of market flexibility and economic development. Because housing is a basic necessity for the human beings.

The housing ministry’s success in providing a sustainable supply according to its residential plan confirms its effectiveness and its influential role in putting the housing problem on the path of the final solution as long as the will, seriousness and strategic thinking are available.

Dr. Baajaja said that the continuation of this residential approach is very important because it is positively and impressively reflected on many economic sectors, starting with the real estate sector, which has played a major role in the development process during the past years.

Sakani campaign is now fully playing its role that serves the citizen, the real estate sector, the national economy and the comprehensive development, added Baajaja.

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