Housing: The electronic property market is still emerging .. and 92% does not reflect the movement of selling and buying. | Ministry of Municipal & Rural Affairs & Housing

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Saturday 21 Dhu al-Hijja 1442 on July 31, 2021

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20/1/1439 -on- 10/10/2017

Housing: The electronic property market is still emerging .. and 92% does not reflect the movement of selling and buying.

The Ministry of Housing Spokesman Saif bin Salem Al-Suwailem revealed that the information about the status of the demand in the electronic real estate market, which is transferred from the Seventh Housing Bulletin, is concerned with electronic marketing sites. It does not represent the total sales volume of the real estate market, stressing that the method of buying and closing offers in electronic marketing sites is not the first option for those interested in buying, especially as the electronic market in this area is still emerging, and lack the opportunity to preview accurately and directly before buying the residential product unlike the purchase on the ground, where some international reports pointed out that e-commerce in the real estate field is still not encouraging.
He explained that 4 out of 12 projects announced by the Ministry of Housing earlier this month were completed reservations for beneficiaries citizens from housing subsidy, because of the large turnout witnessed by those projects, where the completion of the projects of North Riyadh and Rabigh City in its first and second phase. In addition to Al Mubarraz in AlAhsa province, were the completion of allocation procedures for citizens in pending to the completion of their procedures, with a total housing units exceeding three thousand units.
The completion of the booking in these projects took less than two weeks after the launch of the campaign of inspection and booking carried out by the ministry in a number of cities in the Kingdom, aims to provide residential products to the beneficiaries of housing subsidy with various options and with high quality and suitable prices, for those allocated in previous batches of the "sakani" program.
The Ministry of Housing announced 12 projects distributed in 10 cities with ready villas system, and off-plan sale the which aims to provide 20 thousand housing units for the beneficiaries of housing subsidy, and the Ministry's exhibitions witnessed since the opening of its gates earlier this month, the turnout of the beneficiaries, as the bookings are expected to reach levels that targeted by these products,
It is expected that the coming days will witness the Ministry's announcement of similar products in other cities. One of the Ministry's strategic objectives is to provide suitable housing and promoting the supply of the real estate market.