Her Excellency Mrs. Amna bint Ahmed Al Rumaihi, Minister of Housing and Urban Planning, confirmed that the number of applications that were accepted to benefit from the options of housing financing programs of all types, "Tasheel," "Tasheel+," "Mazaya," and "Mazaya of the New Category," reached 2,584 applications during the first half of the year.This year, noting that the total number of applications accepted since the launch of the program in 2022 reached 10,163 housing applications While the percentage of requests that were transferred from the waiting list for traditional services to immediate financing services reached 82%.
Minister Amna Al-Rumaihi stated that financing "Real Estate Facilitation" is at the forefront of the most popular financing options by beneficiaries since the launch of the program, as the number of applications within this option reached more than 5 thousand applications, followed by financing "Mazaya", then "Mazaya of the New Category", followed by Financing "Al-Bayt Al-Oud Facilitation," and finally financing "Taawoun Facilitation.".
She also pointed out that the "Tasheel +" financing, which was launched last April in conjunction with the Innovation Conference and Exhibition in the Social Housing Sector, is in great demand by citizens, due to the advantages it offers, including raising the financing ceiling to 81,000 and 91,000 dinars according to two payment plan tracks.The citizen chooses the most suitable one for him, in addition to providing the citizen with a monthly installment plan from the due date, without the monthly installment being subject to periodic updating In addition to the financing purposes provided by the program, which gives citizens flexibility in choosing housing appropriate to their needs.
The Minister of Housing and Urban Planning added that the service of purchasing residential units and apartments comes at the forefront of the most popular financing purposes by beneficiaries, followed by the service of purchasing land, then the service of building a residence, and finally the service of purchasing and building land, noting that the diversity of financing purposes has given citizens flexibility to choose the type and location.And the immediate area of the housing service.
Minister Amna Al Rumaihi praised the contribution of commercial banks and real estate companies to the housing financing program, which is reflected in the high rates of demand for these options, pointing to the facilities and offers provided by the banks participating in the program, and the speed of procedures, which enables the citizen to complete his procedures easily and conveniently and without waiting periods.He appreciated the keenness of private sector companies to increase the real estate stock in all governorates at prices commensurate with the value of housing financing.
Minister Al-Rumaihi also pointed out the role of the government land development rights program projects in increasing the rates of demand for financing programs, especially after the launch of the "Al-Naseem Neighborhood" projects in the city of Salman in the Northern Governorate, and "Al-Wadi" in the Al-Buhair area in the Southern Governorate, and the depletion of units during the period of the Innovation Exhibition in the sector.Social housing, pointing out the contribution of real estate development company projects during the exhibition in raising the rate of demand for financing services.
The Minister said that the number of applicants and beneficiaries of financing services is expected to witness a noticeable increase during the second half of this year, in light of the daily demand by citizens to benefit from the program’s immediate options, stressing the Ministry’s keenness, in partnership with the private sector, to provide all procedural facilities and continue to diversify.And increasing the real estate stock at prices commensurate with the value of financing, in addition to providing exclusive offers that contribute to the speed of obtaining and moving to housing.
The Minister of Housing and Urban Planning also noted that the continued demand for financing services and projects of the government land development rights program contributes significantly to achieving the ministry’s objectives contained in the government program 2023-2026, especially with regard to providing innovative solutions and strengthening partnership with the private sector.This demand also contributes In implementing the initiatives contained in the state’s general budget for the fiscal years 2025-2026.
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