414,000 low-cost houses for Makkans

414,000 low-cost houses for Makkans
Updated 04 October 2014

414,000 low-cost houses for Makkans

414,000 low-cost houses for Makkans

The Housing Ministry intends to establish 414,000 housing units for limited income groups among citizens in Makkah, adding that the units would be distributed among deserving citizens at reasonable rates.
“These housing units will be taking limited space and will account for 45 percent of the 920,000 new units planned for the city,” the ministry said. It said the plan was aimed at reducing the number of Saudis living in rented apartments by 50 percent in 2040. “We intend to provide 100,000 housing units, expecting that Saudis would be able to meet cost within 10 years.”
Around 621,000 Saudi nationals have been found eligible to receive housing aid under a new scheme designed to ease the shortage of homes in the Kingdom. They were chosen from 961,000 applications received from across the Kingdom.
Families obtaining assistance from ESKAN are to receive state-subsidized home loans or subsidized sales of land or housing units.
The Housing Ministry launched the scheme, dubbed “ESKAN”, to offer housing aid to needy Saudi families. The ministry received a large number of applications following a comprehensive media campaign.