Saudi Housing Ministry allocates over 100,000 residential units

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The housing program would continue to announce reservation opportunities at exhibitions across the Kingdom. (SPA)
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The housing program would continue to announce reservation opportunities at exhibitions across the Kingdom. (SPA)
Updated 16 May 2018
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Saudi Housing Ministry allocates over 100,000 residential units

  • The launch of the fifth batch of the Sakani (housing) program for 2018 has been announced
  • National Housing Company CEO Mohammed bin Saleh Al-Bati said that the housing program would continue to announce reservation opportunities

JEDDAH: The launch of the fifth batch of the Sakani (housing) program for 2018 was announced by the Ministry of Housing and the Real Estate Development Fund (REDF) on Tuesday, the official Saudi Press Agency reported.
It will distribute 21,612 residential and financing products across the Kingdom.
It allocated 105,174 residential and financial products during the first five months of 2018 and has a target of allocating 300,000 products by the end of the year.
The ministry made the announcement at a press conference in Jeddah and revealed that the current batch included 8,115 housing units under construction (off-plan sales) in partnership with real estate developers. The units will be distributed in
two provinces with 7,279 in Makkah and 836 in the Eastern Province.
A further 5,197 plots for development are spread over six provinces: 773 in Riyadh, 749 in Qassim, 2,208 in the Eastern Province, 610 in Asir, 749 in the northern border region and 108 in Al-Jawf region.
Included is 8,300 mortgage loans from REDF — in partnership with banks and financial firms— distributed across the Kingdom’s regions as follows: 2,189 in Riyadh, 1346 in Makkah, 706 in Madinah, 724 in Qassim, 1,015 in the Eastern Province, 609 in Asir, 299 in Tabuk, 308 in Hail, 234 in the northern border region, 169 in Jizan, 311 in Najran, 162 in Baha, and 228 in Al-Jouf region.
National Housing Company CEO Mohammed bin Saleh Al-Bati said that the housing program would continue to announce reservation opportunities at exhibitions across the Kingdom, at least 5 exhibitions are being held every month to announce reservation opportunities.
At the press conference, he said that deals had been signed with five real estate developers for four projects in Makkah and one in Jubail.
He announced the forthcoming launch of seven new projects in Jeddah, two on the ministry’s lands in Prince Fawaz District and in the north and five on private sector land.
The seven projects will provide more than 50,000 housing units ranging from villas, townhouses and apartments.
The ministry continues to accept applications at six housing projects with more than 15,000 housing units in Riyadh, Makkah, Madinah, and Jeddah, he added.
In the last period, 60,000 housing units under construction (off-plan sales) were announced and the number of reservations in these projects amounted to around 40 percent.
“More than 4,000 housing units are ready, 70 percent of (them) have been reserved,” he added.
REDF General Supervisor Khalid bin Mohammed Al-Amoudi confirmed that REDF would continue to provide services to beneficiaries on the waiting lists through suitable financing options.
During the past period, REDF launched an interactive campaign in 14 shopping malls across the Kingdom, attracting lots of interest, he added.
Al-Amoudi explained that REDF had also launched several programs and initiatives during the past period to facilitate access to mortgage loans and help citizens own suitable housing solutions.
These programs and initiatives included the announcement of the self-building product and providing support to beneficiaries who have a loan with REDF by converting it into a supported loan in addition to letting them know what is the loan’s date of receipt and making it possible to receive it at a sooner date by visiting REDF’s website.
Al-Amoudi said that REDF’s Board of Directors has approved extending the loan term for citizens whose applications were approved 10 years ago (or less) for one year starting July 9, 2018.
The Ministry of Housing and the Real Estate Development Fund urged citizens to visit the sakani.housing.sa portal for a list of the names allocated housing units this month and to visit the housing support portal eskan.gov.sa and REDF’s online portal redf.gov.sa to complete the necessary procedures, update data and approve the product.


FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

Ahmad Al-Khatib
Updated 27 May 2018
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FaceOf: Ahmad Al-Khatib, chairman of the board of directors of the Saudi Arabian Military Industries

  • Saudi Arabian Military Industries aims to aims to reduce the country’s reliance on foreign purchases of military products

JEDDAH: Ahmad Al-Khatib was appointed the chairman of the board of directors of the Saudi Arabian Military Industries (SAMI) in October 2017. 

He also holds the posts of chairman of the board of directors of the General Entertainment Authority (GEA) since 2016; chairman of the board of directors of the Saudi Fund for Development; adviser to the general secretariat of the Cabinet; adviser to the minister of defense; and adviser to the court of the crown prince.

Al-Khatib inaugurated on Friday the new facilities of the Aircraft Accessories and Components Company (AACC) at its new headquarters at King Abdul Aziz International Airport in Jeddah during a ceremony under the patronage of Crown Prince Mohammed bin Salman.

SAMI aims to reduce the country’s reliance on foreign purchases of military products and become one of the top 25 global companies in the field of military industries.

“Our goal is to localize more than 50 percent of the Kingdom’s military spending by 2030,” said the crown prince in his earlier statement.

Al-Khatib is a former adviser to the royal court, was the minister of health between 2014 and 2016, and served as the chairman for the Saudi stock company established in 2006, Jadwa Investment.

Al-Khatib has 23 years of experience in banking. In 1992 he joined the Bank of Riyad, working in various departments for 11 years and helping to establish the customer investment department. 

In 2003, Al-Khatib joined SABB Bank and participated in the establishment of Islamic Banking (Amanah). He then became the bank’s general manager.