Sakani Housing program completes Saudi Eastern region projects

Some 144,000 houses will be distributed through 101 Sakani projects throughout the Kingdom. (SPA)
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Updated 05 August 2021
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Sakani Housing program completes Saudi Eastern region projects

RIYADH: The Sakani program has wrapped up four projects in the Eastern Region, and three other initiatives are over 90 percent completed.

Sakani is a real estate initiative launched in 2017 by the Ministry of Housing and the Real Estate Development Fund to support Saudi citizens to own their first home.

Completed projects include Nasaj Town, with 674 housing units, the Saraya AlGharoub initiative, which provides 116 homes, the Mada Oasis project, which will serve 282 families, and the Al-Bayraq Villas settlements in Al-Mubarraz, which offers 178 units.

The Eastern Region’s housing projects with over 90 percent completion include Al-Qatif Al-Badrani, with 196 units, Al-Barraq Villas in Dammam, with 959 housing units, and the “MD” project, which will offer 728 town houses.

Some 34 housing projects are being implemented in the Eastern Region to provide more than 22,000 diverse homes.

Some 144,000 houses will be distributed through 101 Sakani projects throughout the Kingdom.

The scheme runs in partnership with the private sector and channels financing options to people who can also construct their own homes.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.