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Ministry of Housing allocates 1941 residential product in the Eastern Region

Saudi Arabia - August 16, 2017
Ministry of Housing

Saudi Ministry of Housing has allocated 1941 residential product in the Eastern Region to persons eligible to housing support. The new allocation is a part of the seventh batch in “Sakany” program which targets allocating 208 thousand products this year.

The new allocations in the Eastern Region include 1042 subsidized financing loans, 309 free lands, and 509 housing units.

These announcements came on the sidelines of the conference held yesterday in the presence of the Saudi Housing Minister “Majed Al Huqail”. The minister announced the allocation of 28051 products this batch. By this batch, the total number of products offered since last February reached 156008.

As a part of the conference, the ministry signed 6 agreements with real estate developers with a total capacity of 13144 units. The developers are Abdul-Rahman Rashid, Al Hakimiya Real Estate, Shamayel Al Khaleej, Bin Jarallah Holding for Trade and General Contracting, Hamad & Ahmed Mohammed Al Muzaini, and Sondos Real Estate.

The ministry signed also agreements with 4 companies specialized in modern construction techniques, in addition to an agreement with SAMBA Bank to activate the subsidized financing loans.

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