Saudi Arabia’s ministry of housing plans to allow the citizens to choose the design of the units before they register to get it from the ministry or the Real Estate Development Fund, housing ministry official Ahmad Mandurah told Al Hayat newspaper.
Meanwhile, the ministry aims to reduce the wait times before delivery of units to between two and three years, he said.
Off-plan sales represent a fast way to purchase property, as beneficiaries can pay 5 percent of the price before construction, and then pay the remaining down payment of 10 percent upon receiving their units.
According to data compiled by Argaam, the housing ministry has launched six Sakani campaigns so far, with the total of 127,960 housing products, from 280,000 housing products planned for this year.
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