RIYADH: The Saudi National Housing Company has announced that it has launched the facilitated installment program to help those wanting to find suitable homes.
The initiative comes as part of the company’s efforts to boost home ownership rates to 70 percent by 2030.
NHC said that the program is subsidized and will be implemented on 12 projects in its first phase.
The program also aims to raise ownership rates among Sakani beneficiaries who cannot afford housing and whose net salaries do not exceed SR7,000 ($1,870).
A down payment is not required and buyers will be able to pay in monthly installments starting from SR850.
The program includes residential apartments that are under construction and situated in prime locations in the suburbs and communities of NHC.
Additional support will be provided up to a maximum of SR100,000. A further support package will be given to beneficiaries amounting to SR150,000, including the additional support after purchasing the unit.
Details of the program can be found on Sakani’s website.
Housing subsidy beneficiaries can book a unit in the projects covered by the first phase of the program by visiting Sakani centers in Jeddah, the Eastern Province and Madinah.
