In a significant stride towards enhancing homeownership, over 51,000 Saudi families have moved into their first homes from January to May 2026, as reported by the Ministry of Municipalities and Housing. This initiative is part of a broader effort to provide a variety of housing and financing solutions tailored for eligible families across the Kingdom. The ongoing Sakani program, launched in 2017, has facilitated a total of 1,040,215 supported housing contracts, underscoring its pivotal role in promoting homeownership and elevating ownership rates among Saudi families. The Riyadh Region has emerged as the leader in supported contracts, followed by Makkah, the Eastern Province, and Jazan, indicating a robust demand for housing solutions and the effective reach of government support initiatives throughout the Kingdom. The Sakani program continues to offer diverse options, including ready-built homes, off-plan residential units, self-construction opportunities, and residential land, thereby empowering families to select housing that aligns with their specific needs and preferences. Furthermore, the ministry's collaboration with real estate developers aims to create integrated residential communities that not only provide housing but also incorporate essential public services, facilities, and open spaces, thereby enhancing the overall quality of life and supporting the Kingdom's vision for sustainable urban development. The ministry's efforts have successfully elevated the Saudi homeownership rate to 66.24 percent by the end of 2025, inching closer to the ambitious 70 percent target set under Saudi Vision 2030. The ministry reiterated its commitment to expanding housing supply through further residential projects and partnerships with the private sector, ensuring that the needs of Saudi families are met while maintaining a balanced real estate market and fostering the growth of vibrant communities.
Source: Saudi Gazette
