Saudi National Housing Co. launches 5,000 new villas in Riyadh

RIYADH: Saudi Arabia’s National Housing Co. has launched 5,000 new residential villas in Riyadh, as part of a plan to enhance real estate supply through the Sakani program during 2022.

The newly launched units are located in the north of Riyadh and in the Al-Asala project in the south, the Saudi Press Agency reported. 

Housing units will be offered in phases during April, with the first project to be launched on Wednesday. 

Reservations will be available through the Sakani application and website and its full services center, the SPA reported.

The Ministry of Housing and the Real Estate Development Fund formed Sakani in 2017, with the aim of facilitating home ownership in the Kingdom, by developing new housing stock, allocating plots and homes to nationals and financing their purchase. It has a goal of reaching 70 percent home ownership by 2030.