The Saudi Arabian Ministry of Housing announced the launch of Sakani 2018, the second phase of the ministry’s Sakani program, in partnership with the Saudi Arabian Real Estate Development Fund (REDF).
Khaled Al Amodi, the general manager of REDF, commented that Sakani 2018 will comprise the largest batch of real estate fund products to be released ever since the foundation of REDF in a significant step to achieve Saudi Arabian vision 2030. Al Amodi added that the included residential units in Sakani 2018 will be allocated on monthly basis starting from mid-January and that they will be variant in terms of specifications and areas. He also assured that the units will be handed over within 36 months after signing the contract.
Sakani 2018 is planned to comprise 300,000 residential products available for allocation all over the Kingdom of Saudi Arabia which will include 125,000 residential units, 75,000 residential lands and 100,000 residential funds.
The first phase of the program, Sakani 2017, has been launched in January 2017 with the aim of the allocation of 280,000 residential products. However, the Saudi Arabian Ministry of Housing announced that the program has exceeded its aforementioned target earlier this month.