RIYADH: The Jood Eskan charity campaign inaugurated by King Salman at the beginning of Ramadan, has surpassed its goal of raising SR1.5 billion (almost $400 million) during the holy month to provide housing for families in need.
King Salman and Crown Prince Mohammed bin Salman launched the campaign with a generous donation of SR150 million. Minister of Municipal and Rural Affairs and Housing Majed bin Abdullah Al-Hogail, who is also Chairman of the Council of Trustees of the National Developmental Housing Foundation (Sakan), announced the end of the campaign on Friday.
A number of major corporations were partners in the campaign, including the General Endowment Authority, Al-Rajhi Bank, STC Group, MBC, Al-Arabiya News Channel, the National Group for Housing, Ajlan and Brothers, Sumou RealEstate, Khuzam Real Estate, and Al-Arabia Outdoor Advertising.
As many as 26,250 individuals from 5,250 families throughout the Kingdom have secured homes thanks to the campaign, which has been officially recognized by Guinness World Records as the most successful month-long electronic charity drive in history.
Jood Eskan, is a Saudi crowdfunding platform for home ownership launched in 2019 by Sakan, a non-profit arm of the Ministry of Municipal, Rural Affairs, and Housing. Jood Eskan collects donations and provides services and financial contributions to eligible families, including rent and home ownership.
The charitable campaign, titled Evergreen Stock, is an IPO simulation that targeted Saudi Arabia’s most prominent corporations, institutions, and individuals. Inspired by financial stock markets, the creative fundraising campaign recreated the IPO model by “selling stocks” through goodwill and charitable contributions to encourage community members and private sector players to “invest.” It offered 100 million stocks at SR10 per share.
Commenting on the campaign, Al-Hogail said: “This year’s Ramadan campaign serves as a reminder to the Kingdom that the best investment that people and businesses can make is in the welfare of their communities. The funds raised this month will support approximately 3,500 families in need.”
Saudi Vision 2030 aims to raise the national home-ownership rate from 47 percent in 2016 to 70 percent by 2030.
