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In Dammam, Saudi Arabia's 'Sakani' launches 'Elite' project with 869 units
The Saudi Arabia Ministry of Housing's "Sakani" project has introduced its "Elite" residential project north of Dammam's King Fahd suburb, providing Saudi people homes that can be reserved digitally through the use of the Sakani website, the Sakani mobile application, or by visiting the project's headquarters' sales base. The "Elite" project is a public-private partnership housing development in the kingdom's eastern area that is currently under development (PPP).
The project will occupy approximately 500,000m2 which will include 869 villas in various styles, varying in price from 227m2 to 763m2, with prices ranging at $205,000 (SAR769,000) and payable in monthly installments.
Saif bin Salem Al-Suwailem, a representative for the Ministry of Housing, said the "Elite" project would include appealing home designs that meet the standards of Saudi Arabia's "standard of living" initiative, which wants to make a healthier life for citizens by providing the required atmosphere and increasing residents' participation in cultural activities, sports, and entertainment.
The Eastern Region is seeing the execution of 27 housing projects in collaboration with real estate developers, offering over 20,000 housing units made available across many provinces in the country with a variety of designs and models, including apartments, townhouses, and villas at affordable prices.
The Saudi Ministry of Housing intends to increase housing possession among its civilians to 70% by 2030. In various regions of the kingdom, more than 58 housing projects are in different phases of development. Saudi nationals can use the curriculum to get direct exposure to residential plots, self-construction residential housing, prefabricated residential units, and under-development housing units, among many other things.
Sakani's digital platforms provide information about the place, characteristics, and costs of residential units which are ready for direct and electronic reservation.
The application also allows Saudi citizens who own land to obtain a 100% profit-backed commercial property loan to build their own homes. According to the state-run Saudi Press Agency, it allows Saudi citizens to obtain permits to build within six months, begin construction within a year, and complete their homes within three years.
The Sakani program intends to facilitate more than 300,000 families through different housing solutions by 2020, such as allowing more than 130,000 families to enter into new homes, supplying more than 90,000 plots of prime plots to Saudi families, and building more than 100,000 housing units in collaboration with real estate developers.
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