Launched in 2018, the Housing Program is making the dream of homeownership a reality for millions of families across Saudi Arabia. The Kingdom is committed to supporting access to affordable, quality housing for all citizens, and is the only country with a national housing strategy program and a defined target of homeownership.
The Housing Program’s overhaul of the Kingdom’s housing sector has broadened access to finance, simplified regulations, and supplied the market with diverse options. As a result, Saudi Arabia is well on its way to meeting its goal of 70% homeownership by 2030 and ensuring that all families can one day own the home of their dreams.
For families that need help to achieve homeownership, the Program established Sakani, which provides personalized housing and financing solutions. Over a million families have been supported by Sakani, with a third now living in their dream home.
For those who rent, the Program launched e-service Ejar, which protects renters from landlord misconduct, while giving landlords credible, enforceable rental contracts. To date, more than 4.5 million leases have been registered.
Numerous real-estate development projects are bolstering Saudi’s current housing shortfall, while providing investment and job opportunities. These projects, combined with the Program’s initiatives and partners, are creating welcoming neighborhoods throughout the Kingdom that bring communities together.