Homeownership Program
Synonyms: Iskan Program، Saudi Housing Program، Sakani Program، Homeownership Initiative
Last updated: 2026-05-07
Short Definition
Saudi initiative targeting raising citizen homeownership to 70% by 2030, including loans, financial subsidies, and land grants.
Overview
Legal Basis
The Homeownership Program is based on Council of Ministers decisions establishing housing programs under Vision 2030, the Real Estate Finance Law issued by Royal Decree No. (M/50) of 1433 AH, and the Real Estate Development Fund regulations. It is also regulated by Ministry of Municipal, Rural Affairs and Housing decisions and partnership agreements with banks and developers. The program is among the main initiatives in the National Transformation Program and the Financial Sector Development Program under the Vision 2030 document.
Practical Example
A family consisting of a Saudi couple with 3 children, the husband is a government employee with a salary of SAR 11,000, have been renting for 8 years. The wife submits an application via Sakani (the wife is also qualified as head of household due to her caring for children). The system proposes to them: a ready apartment in Roshn Sedra project worth SAR 880,000, with cash support of SAR 100,000 + a loan subsidized at 3% profit margin from Al-Rajhi Bank. The monthly installment is SAR 3,800 (35% of salary). The family accepts the offer, contracts are signed electronically, and they move in within 90 days. They were paying SAR 3,500 monthly rent before ownership, becoming approximately the same amount but for ownership. This model has been repeated for more than two million Saudi families under the program.
Common Mistakes
- ✗Applying more than once from members of the same family — the system detects families and excludes overlap; application must be from the most suitable head of household.
- ✗Assuming eligibility is guaranteed upon application — assessment takes time and depends on specified criteria that may not be met by everyone.
- ✗Ignoring self-build options if the family owns a land — may be financially better than a ready apartment.
- ✗Choosing a housing unit far from work due to price attractiveness — total cost with transportation may exceed the benefit.
- ✗Rushing to sign the first offer — comparing at least 2-3 options on Sakani before the final decision is recommended.
International Differences
National homeownership programs differ between countries. In the UAE, the Sheikh Zayed Housing Program and housing institutions in each emirate provide subsidized units and loans. In Turkey, TOKİ builds housing units for specified income segments at subsidized prices. In Egypt, Dar Misr project and Social Housing. In the UK, Help to Buy (ended 2023), Shared Ownership, and Right to Buy schemes for social housing. In the US, HUD Programs, FHA Loans, Section 8, and LIHTC. Singapore is distinguished by HDB (Housing Development Board) which houses 80% of citizens. The Saudi advantage is unprecedented scale (two million families in 9 years), full digitalization via Sakani, partnership with major developers (Roshn, Retal, Al-Safiya), and great product diversification (12+ products).