"Eskan" launches two new projects north of Jeddah that providing about 2,400 housing units. | Ministry of Housing

Ministry of Housing

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Tuesday 22 Dhu al-Hijja 1441 on August 11, 2020

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1/7/1440 -on- 07/03/2019"Eskan" launches two new projects north of Jeddah that providing about 2,400 housing units.

Are located on the Ministry's land next to (King Abdullah Sports City).

"Eskan" launches two new projects north of Jeddah that providing about 2,400 housing units.

The Ministry of Housing announced on Wednesday the start of the booking procedures in two new housing projects in Jeddah, providing 2,400 housing units "under construction", to provide many housing options for citizens benefiting from housing subsidy, and to meet the needs of all cities, including the high population density.

The projects announced by the ministry today include the "Feynan" project located north of Jeddah on an area of 171,250 square meters, specifically north of Jeddah, next to (King Abdullah Sports City) and close to the Medinah Road, which will provide 1407 apartments, features with a variety of designs and models provided by the project, where the space of a housing units are about 245 square meters, with price starting at 320 thousand riyals, and in monthly installments supported profits starting from 1069 riyals, the project includes integrated service facilities, parks and mosques, as well as sites dedicated for schools.

The other project, "Al Jawhara Residence", is also located in the north of Jeddah city and is characterized by the quality of the design and its strategic site, which is located near the (King Abdullah Sports City) on an area exceeded 98 thousand square meters. The project provides 990 apartments. The project presents two models of residential units. Also, includes the development of the infrastructure, the provision of services from mosques and grand mosques, as well as sites designated for schools, kindergartens and health centers. The project includes green areas, parks and playgrounds, in addition to commercial centers.

The "sakani" program continues to build and implement 45 new housing projects in 16 cities across the Kingdom to provide a variety of affordable housing options with prices ranging from 250 to 750 thousand riyals with high quality of guarantees and implementation, as well as partnerships with real estate developers ,Saudi Arabian Monetary Agency and banks to facilitate citizens' access to the appropriate home finance. The governments guarantee the interest on the value of the home finance with up to 100% support for those with less than 14,000 riyals income and easy mortgage support you with 5% down payment, to pay it in installment for "sakani" beneficiaries with the possibility of installment in housing projects (under construction).

The "Sakani" program aims to accelerate ownership and reach 70% by 2030, in line with the of the "eskan" Program objectives one of the "Vision 2030"programs., trough reduce waiting lists and provide more housing opportunities for different segments of society across the Kingdom. It is worth mentioning that the program has announced this year 2019 the allocation of 200 thousand residential and financing options in various regions of the Kingdom, including 100 thousand mortgage backed by the REDF, and 50 thousand free land, and 50 thousand housing units (under construction), and all the options and solutions provided by the program can be found on the website,visit the program's website at: Sakani.housing.sa