Latest news with #JoodEskan
Arab News
03-05-2025
- Business
- Arab News
Crown prince fuels housing vision with SR1bn support
In a historic initiative to promote homeownership among Saudi citizens, especially those with the greatest need and lowest incomes, Crown Prince Mohammed bin Salman has donated SR1 billion ($266.6 million) to the National Development Housing Foundation, known as Sakan, via the Jood Eskan platform. With a vision rooted in generosity and national pride, the crown prince has mandated that all housing projects funded by this donation be completed within 12 months, using national companies for implementation. He has also emphasized transparency and accountability through monthly progress reports, showcasing his commitment to swiftly delivering housing to deserving families. The initiative aims to uplift thousands of citizens, ensuring them a dignified life and reinforcing social stability, while reflecting his broader dedication to sustainable development and inclusive growth in the Kingdom. The donation will significantly strengthen Sakan, accelerating the delivery of homes to eligible citizens, building on the 47,000 homes already provided. The crown prince's SR1 billion donation underscores a commitment to expanding homeownership and ensuring greater access to affordable housing for Saudi families It will also support the Saudi government's housing efforts, advancing homeownership opportunities for citizens and helping to meet the ambitious goal of 70 percent homeownership by 2030. Before the Housing Program launched in 2018, Saudi families waited up to 15 years for housing support. Now, thanks to government initiatives, homeownership can be secured instantly, transforming access to housing and improving quality of life. By improving access to financial support, simplifying procedures and digitizing documentation, homeownership surged from 47 percent to more than 65.4 percent by 2024, surpassing the interim target set within Saudi Arabia's Vision 2030. This achievement reflects the success of government efforts, particularly through programs such as Sakani and the Real Estate Development Fund, in providing housing and financing solutions for citizens. This donation aligns with the crown prince's recent directive to stabilize the real estate market, directly supporting the government's strategy to increase housing supply and regulate property prices for greater affordability. The crown prince's SR1 billion donation underscores a commitment to expanding homeownership and ensuring greater access to affordable housing for Saudi families. By reinforcing efforts to boost housing supply and stabilize real estate prices, the initiative paves the way for a sustainable, inclusive and thriving housing sector for future generations. The crown prince's donation reflects his dedication to ensuring citizens enjoy dignified lives. It stands as a testament to his deep commitment to the housing sector, particularly initiatives that support deserving families, foster social stability and promote long-term development. • Talat Zaki Hafiz is an economist and financial analyst. X: @TalatHafiz
The National
29-04-2025
- Business
- The National
Saudi Crown Prince donates 1 billion riyals to support housing ownership
Saudi Crown Prince Mohammed bin Salman has donated 1 billion Saudi riyals ($266 million) to support housing ownership projects for eligible beneficiaries and families in need. The donation on Monday came from his personal fund to the National Development Housing Foundation's Jood Eskan platform. It was ordered that the project should be completed within 12 months and implemented by national companies. This reflects Prince Mohammed's ongoing commitment 'to ensuring a decent standard of living for all citizens', the official Saudi Press Agency reported. It also underlines his 'dedication to the housing sector and his particular focus on supporting deserving families', added SPA. He also directed authorities to submit monthly reports on the progress of home ownership in order to ensure that all housing units are completed within the one-year period, as well as for transparency and accountability. Saudi Minister of Municipalities and Housing Majed Al Hogail thanked the Crown Prince for his generosity. 'A generous donation that embodies His Highness's awareness of the citizens' needs and his keenness to provide a dignified life and achieve social stability,' wrote Mr Al Hogail on X. Jood Eskan also took to X to express gratitude for the donation, saying it reflected a 'deeply rooted approach to giving, and generous care for deserving families across various regions of the Kingdom'. Last month, Prince Mohammed ordered measures aimed at stabilising the real estate sector, in response to rising land and rent prices in Riyadh. 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Saudi Gazette
28-04-2025
- Business
- Saudi Gazette
From his own resources… Luminous lessons in leadership and humanity
In an era where words often outweigh actions, Saudi Crown Prince Mohammed bin Salman presents a fresh and living lesson in genuine leadership and humanity. The Crown Prince's unprecedented and generous donation of one billion Saudi riyals (approximately 267 million US dollars) from his personal funds to the National Developmental Housing Foundation (Sakan), through the 'Jood Eskan' initiative, reflects a profound commitment to serving the citizens. Yet, the true beauty of this act lies not merely in its extraordinary value, but in the deep messages it conveys — messages deserving of thoughtful reflection and admiration. First: A generous donation... Opening the widest doors of giving For a nation's leader to make a donation of this scale from personal wealth speaks not only of individual generosity but of a leadership vision that sees the citizen as the very heart and purpose of development. When the leader personally dedicates SR1billion to support dignified housing, it affirms that the bond between leadership and citizens is not one of authority and governance alone, but a bond of shared responsibility and familial care. This donation stands as a vivid testament that the citizen remains the central focus of every developmental project, and that dignity begins with a roof overhead. Second: Completion within 12 months... Speed in the service of humanity Crown Prince Mohammed bin Salman did not merely announce the donation; but he directed that all funded housing projects be completed within no more than 12 months — a clear declaration that the age of swift achievement has replaced the era of deferred promises. This emphasis on speed reveals a leadership philosophy that leaves no room for procrastination or bureaucratic delay. There is no space for frozen hopes trapped behind the walls of red tape. Citizens are to witness the fruits of initiatives promptly, rather than waiting for development promises to be buried in endless files. Thus, a new culture emerges: speed in the service of humanity. Third: National companies leading the projects... Boosting the local economy The Crown Prince's insistence that national companies undertake these projects reflects a deep-rooted patriotism that seamlessly links human service with economic empowerment. By assigning these tasks to Saudi firms, the initiative not only supports local expertise and talent but also stimulates the construction sector to reclaim its rightful place in the Kingdom's economic renaissance. Through this vision, the donation simultaneously fulfills two goals: providing homes for citizens and revitalizing the national economy by creating both direct and indirect employment opportunities. Fourth: Monthly progress reports... Rigorous oversight from the heart of leadership Success is not achieved through funding alone, but through diligent follow-up. Accordingly, Crown Prince Mohammed bin Salman directed that monthly reports on project progress be submitted. This instruction reflects a leadership spirit that does not merely launch initiatives but actively monitors, measures, and holds them accountable. Every riyal must be spent wisely. Every housing unit must meet the highest standards and be delivered precisely on schedule, reinforcing the citizens' confidence that their leadership is involved in every detail of their lives and dreams. Prince Mohammed bin Salman's donation is not measured solely by its financial value, but by the spirit driving it and the sincere intention that believes dignity begins with secure shelter. In every aspect of this initiative — from generosity to speed, from national economic empowerment to meticulous oversight — we discern the portrait of a leader who has chosen to be intimately involved in the details of his people's lives. Through initiatives like these, nations are not merely built; trust is nurtured, belonging is strengthened, and a conviction is reinforced: that leadership is not merely a position, but a relentless mission of service and generosity. When a leader becomes part of the dreams of his people, dreams transform into reality, hopes evolve into achievements, and the homeland becomes a shelter vast enough for everyone.
Asharq Al-Awsat
28-04-2025
- Business
- Asharq Al-Awsat
Saudi Crown Prince Donates SAR1 Bln to Support Housing Ownership within 12 Months
Prince Mohammed bin Salman bin Abdulaziz Al Saud, Saudi Crown Prince and Prime Minister, has made a substantial personal donation of SAR1 billion to the National Development Housing Foundation's (Sakan) Jood Eskan, generously contributing to facilitating homeownership for eligible beneficiaries and families in need. Reflecting his commitment to ensuring a decent standard of living for all citizens, Crown Prince Mohammed has mandated the swift completion of these housing projects within 12 months, directed that national companies execute the projects, and required monthly progress reports on the ownership process to ensure transparency and accountability. This donation underscores the Crown Prince's ongoing dedication to the housing sector and his particular focus on supporting deserving families. Recognizing the pivotal role of stable housing in fostering social well-being and driving developmental progress, the initiative aims to provide thousands of families with the security and opportunity they need to thrive.
Saudi Gazette
28-04-2025
- Business
- Saudi Gazette
Crown Prince donates SR1 billion to support housing for eligible families
Saudi Gazette report RIYADH — Crown Prince and Prime Minister Mohammed bin Salman has donated SR1 billion from his personal funds to the National Developmental Housing Foundation (Sakan), represented by Jood Eskan, to support home ownership for eligible families across Saudi Arabia. Prince Mohammed directed that the housing projects funded by this donation be completed within 12 months and executed by national companies. He also ordered monthly progress reports to ensure that all residential units are delivered within one year. The donation reflects the Crown Prince's ongoing commitment to providing a dignified life for citizens by backing initiatives aimed at expanding housing opportunities in various regions of the Kingdom. The Crown Prince's contribution underscores his strong interest in the housing sector and his dedication to supporting low-income families, recognizing the role stable housing plays in promoting social stability and development across Saudi society.
