RIYADH: The Real Estate Development Fund (REDF) in the Kingdom said that 140.000 new Saudi families will be able to own their first home this year through the Sakani program.
This will help to achieve the housing targets set out within the Saudi Vision 2030, said REDF CEO Mansour bin Madi, the Saudi Press Agency reported.
It aims to boost Saudi home ownership to 70 percent.
Some 644,000 families in total will have benefited from different types of assistance under the scheme by the end of 2021, the fund chief predicted.
The “subsidized loan” program enabled more than 424,000 Saudi families to own adequate housing, since its launch in June 2017 through the end of 2020.
The scheme runs in partnership with the private sector and channels financing options to people who can also construct their own homes.