Sakani: Real estate supply exceeds 248,000 off-plan units

Sakani program announced that the supply of real estate units has exceeded 248,000 units available for off-plan sale, according to the Saudi Press Agency.

Over 580,000 booking transactions for off-plan projects across the Kingdom were registered, covering 623 residential projects with diverse designs, sizes, and services.

The Minister of Municipal Rural Affairs and Housing, Majed Al-Hogail, stated that these figures demonstrate the strong partnerships with the private sector, and it also aligns with the Saudi Vision 2030’s objectives. These objectives are aimed at enabling Saudi families to own homes while providing them with diverse housing options tailored for their needs.

Earlier this year, the Minister said in an interview with Argaam that off-plan sales have contributed to regulating the real estate market and that the ministry aims to inject 20,000 housing units this year priced below SAR 450,000. He further added that, in cooperation with the private sector, the ministry plans to deliver 140,000 housing units in major cities, with an average price of less than SAR 850,000.