Latest news with #MajidAlHogail
Argaam
4 days ago
- Business
- Argaam
Learn about key amendments of housing subsidy regulation
Logo of Sakani program The Sakani program announced today, May 28, the key amendments to the housing subsidy regulations, approved by the Cabinet on May 27. The amendments include lowering the minimum eligibility age for housing subsidy applicants to 20 years from 25 and removing the dependency requirement for wives and divorced mothers to qualify for housing support, the program said on X. The amendments also include revising the condition related to the duration since divorce, delegating the determination of this period to the executive regulations. Divorced mothers were eligible for housing support after two years since divorce. Providing misleading information or documents will now result in the revocation of the housing subsidy. Previously, the subsidy was reclaimed only if it was a residential land or a housing unit. Minister of Municipal and Rural Affairs and Housing Majid Al-Hogail stated that the Cabinet's approval of the amendments will enable more families to benefit from various financing and housing options, adding that this aligns with the goals of the Housing Program and Saudi Vision 2030, which aims to increase the home ownership rate to 70%. The Saudi Cabinet, in a meeting chaired by Crown Prince Mohammed bin Salman on May 27, approved a number of decisions, including the amendment of the housing subsidy regulation, Argaam earlier reported.
Arab News
4 days ago
- Business
- Arab News
Housing support opens to Saudis aged 20 in major policy shift
JEDDAH: In a significant move to broaden access to homeownership, Saudi Arabia has reduced the minimum age for housing support eligibility from 25 to 20. The policy shift is designed to accelerate homeownership among younger citizens and aligns with the Kingdom's broader economic and social development goals. Announcing the update on social media platform X, Minister of Municipal, Rural Affairs and Housing Majid bin Abdullah Al-Hogail expressed his gratitude to King Salman and Crown Prince Mohammed bin Salman for endorsing the changes. 'This step will contribute to enabling more families to benefit from diverse housing and financing options, in line with the goals of the Housing Program and Saudi Vision 2030 to raise the homeownership rate to 70 percent,' the minister said. The reform marks a continued commitment by Saudi Arabia to expand the reach and impact of the Saudi Housing Program, or Sakani, a key initiative driving social welfare and economic growth. The program was recently lauded by the International Monetary Fund in its September Article IV Consultation report, which cited notable accomplishments including a rise in the homeownership rate to approximately 64 percent, a 90 percent satisfaction rate among beneficiaries, and a wide variety of housing options. According to the Saudi Press Agency, Al-Hogail stated: 'The move reflects the leadership's continued commitment to strengthening the Kingdom's housing sector and enabling more citizens to own their first homes with ease and flexibility.' He added that the updated regulations would offer a wider array of options tailored to the needs of different Saudi households. One of the landmark reforms includes removing the financial dependency requirement previously applied to wives and divorced mothers, ensuring equal access to housing support regardless of gender. The eligibility period for divorced women has been also revised, with details to be clarified in forthcoming implementing regulations. Previously, divorced mothers were subject to a two-year waiting period before qualifying for support. Another notable change reduces the mandatory holding period for housing support assets—from 10 years to five—allowing beneficiaries to transfer or sell their supported assets more quickly. This is intended to provide greater flexibility and reflect the changing economic and social landscape of Saudi families. The amendments also include enhanced accountability measures. Stricter penalties have been introduced for submitting false information, and authorities will now be able to reclaim any type of housing subsidy—including financial aid, residential units, or land—if an applicant is found to have provided misleading data. Citizens will be able to apply under the new criteria once regulatory procedures are finalized and officially announced.
Arab News
23-05-2025
- Business
- Arab News
Saudi minister of municipalities and housing concludes official visit to Kuwait
KUWAIT CITY: Saudi Minister of Municipalities and Housing Majid bin Abdullah Al-Hogail has concluded his official visit to Kuwait, during which he headed the Kingdom's delegation at the 23rd meeting of the Gulf Cooperation Council's housing ministers, which included participation from the relevant ministers of member states and was attended by the secretary-general of the GCC. Several technical guidelines were adopted at the meeting, most notably the Value Engineering Guide for GCC Housing Projects, which was prepared by Riyadh as a step to enhance spending efficiency while improving the quality of outcomes in Gulf housing schemes.
Arab News
18-05-2025
- Business
- Arab News
Plan smarter to ‘unlock future prosperity,' Saudi housing minister says
RIYADH: Project management is 'one of the most important drivers of national trust,' Saudi Minister of Municipalities and Housing Majid bin Abdullah Al-Hogail told a conference in Riyadh on Sunday. Saudi Vision 2030 was created to paint a prosperous future that will reinvent the economic, social, and developmental reality of the Kingdom, Al-Hogail added. Project management plays a pivotal role at the governmental level by improving the execution and quality control of numerous projects, in full alignment with national goals and targets, he said. The fourth Global Project Management Forum, with Arab News as a media partner, began its first day of discussions with more than 120 speakers. The event brings together experts for workshops and dialogue on the best practices in the industry, aligning with Saudi Arabia's rapid development under Vision 2030. 'Today, we are witnessing accelerating changes and rising challenges … at the heart of (the solutions) is project management to reshape our spaces, meet the needs of the people, and enhance overall sustainability,' said Al-Hogail. 'At the housing and municipality sector, we design projects to meet the dreams of households.' According to the minister, more than 133,000 entities in the Kingdom are working on a wide range of construction projects. 'This kind of momentum cannot be achieved without project management, which starts with the people and their focus on the conscious planning, flexibility in execution, and ability to adapt to new changes.' Project management has become smarter, he said, with a strong ability to predict and plan sustainably, and with the potential to help build a strong nation with a diversified economy. The two-day forum will feature 50 strategic and technical sessions, and include more than 40 exhibitors. A total of 60 agreements will be signed to develop partnerships between entities.
Trade Arabia
18-05-2025
- Business
- Trade Arabia
MENA's largest project management forum opens in Riyadh
The largest project management forum in the Middle East and North Africa and the second largest worldwide opened in Riyadh on Saturday. The Global Project Management Forum (GPMF) 2025, held under the patronage of Majid bin Abdullah Al-Hogail, Minister of Municipalities and Housing at Fairmont Riyadh, will run till tomorrow (May 19). With the theme 'Next-Gen Project Management: The Power of People, Processes, and Technology,' GPMF 2025 has brought together government officials, industry pioneers, innovators, and global thought leaders to shape the future of project delivery in a rapidly evolving world. 'Saudi Arabia is not only delivering some of the most ambitious projects globally — it is cultivating the talent and building the systems that will shape the future of the profession,' said Eng Badr Burshaid, Chairman of the Global Project Management Forum. 'GPMF is more than a gathering—it is a platform of influence, leadership, and vision.' A powerhouse of learning and global exchange The forum opened with a full day of premium masterclasses and advanced workshops on May 17, offering in-depth training on emerging methodologies, leadership strategies, and digital tools. Over the next two days (May 18–19), GPMF will feature keynote speeches, expert panels, interactive breakout sessions, and a large-scale exhibition. Sessions will focus on topics such as artificial intelligence in project planning, giga-project execution, sustainable transformation, and digital innovation—highlighting how project professionals are redefining impact in today's complex world. Minister Al-Hogail will deliver a keynote address during the forum, reinforcing the government's commitment to empowering the project economy as a national priority. A platform where strategy meets innovation This year, GPMF is hosting a dedicated B2B innovation platform, allowing project-tech entrepreneurs and solution providers to pitch breakthrough ideas to global stakeholders and potential investors. 'This forum is where ideas come to life—where future-ready strategies are forged and long-term partnerships are built,' said Eng. Badr. 'Whether you're managing billion-dollar projects or building tools to support them, GPMF offers the world's stage to connect, collaborate, and lead.' 'Saudi Arabia has become a destination where the world comes to learn, to build, and to lead,' added Eng Badr. 'And GPMF is where that journey begins.' - TradeArabia New Service
