Housing News: More than 170,000 homes completed in the first half of 2019

The data and housing monitoring center of the Ministry of Housing announced the completion of the construction of more than 170,000 new homes in the market and the delivery of electricity between apartments, villas and houses. townhouses in the first half of 2019.

Riyadh witnessed the entry of more than 27,500 completed homes, 23,000 in Jeddah, 14,500 in Mecca, 10,000 in Dammam, 9,000 in Taif, 7,000 in Medina, 6,000 in Al-Ahsa and 3, 5,000 in Buraidah, 3,000 in each of Abha and Hail, and 63,500 in other cities.

Ali Al Jaber, Undersecretary for Planning and Studies, explained that the figures reflected the market's response to the growing demand for housing and the impact of the ministry's efforts for more than two years to offer more options and facilitate the ownership of the first house, such as units to build oneself on the map, free land and high financing. Real estate options for these.

He stressed that the ministry through "Sakani" helps citizens to facilitate their access to housing that suits them by supporting home loans and modifying the support calculator to include the largest number of citizens in buy ready-to-use units in the market, self-build by landowners and transfer existing loan financing to funding provided by the Ministry, the Development Fund. Immovable.

The ministry also reduces the down payment to 5% for Sakani beneficiaries, with the possibility of down payments into residential units under construction, which is reflected in the increase in property rates among citizens as well as in the growth of mortgage loans to citizens supported by government housing programs.