Saudi Arabia has launched a housing programme designed to hand over up to 120,000 units to citizens this year. The Sakani programme is part of a wider programme to assist 280,000 families. The first batch will include 15,653 housing units, according to Prince Saud Bin Talal, Adviser and General Supervisor at the Housing Ministry. These include 5,016 housing plots and financial support for 7,700 through the Real Estate Development Fund. The programme will also include 75,000 housing plots ready for construction and financial support for 85,000 through the real estate fund. The first batch will be allotted in cities and regions across the country, including 891 homes in Tabuk and 896 plots in Madinah. The new system is expected to bring down the waiting period for homes from 11 years to five. Saudi Arabia’s Vision 2030 plan aims to increase the percentage of home owners amongst Saudi citizens to 52% by 2020 from 47% today. (Gulf Business)