Quotes: US MENA   Enter Symbol: NewsLetter: Search: advanced

Saudi - Ministry announces terms for getting housing support  Join our daily free Newsletter

MENAFN - Arab News - 08/01/2014

No. of Ratings : 0
Add to Mixx!


 


(MENAFN - Arab News) The Ministry of Housing on Tuesday announced the conditions for Saudis seeking housing support, be it a house, land or loan which will be paid by the applicant through easy installments.

Ministry spokesman Muhammad Al-Zumai said at a press conference in Riyadh that as per the mechanism and criteria for the housing support scheme approved by the Cabinet on Monday, applications from the following groups of families will be accepted - man and wife, man and wife with one or more children, a father with one or more children, a mother with one or more children, two siblings whose parents died, one or more children whose father died and mother is non-Saudi or the other being their only provider.

The ministry spokesman said that according to the approved scheme, an applicant has to be a Saudi, the family has to be residing in Saudi Arabia, the applicant should be 25 years old or more, none of the family members own a home, none of them has owned a home in the last five years (the date is set from the time of application), none of the family members had been registered in other government program to own a house.

The application should be filed by the husband or father, the wife or the mother who provides for her children including widows and those who were divorced at least two years before the date of application. It can also be filed by the children of deceased parents (the children should apply together).

The conditions will be applicable from the date of application to the date when the housing support is granted. Merely applying does not mean obtaining the support immediately. The conditions will have to be met when it is granted. Priority for obtaining the support (the house, loan or land) is determined based on the applicant's and their family's financial state, age, the number of family members, the social and health status of the applicant and family as well as the date of the application (applying first fetches an applicant priority points).

The ministry will launch an online portal for receiving application and verifying the data entered. The website will be launched in 60 days and will be connected to all relevant parties that have the information on the applicant's status and the extent of its need for housing support. The scheme will also include those who had already applied for loans at the Real Estate Development Fund after 2010.

 






  MENA News Headlines


 






Google

 
 

Middle East North Africa - Financial Network

MENAFN News Market Data Countries Tools Section  
 

Middle East North Africa - Financial Network
Arabic MENAFN

Main News
News By Industry
News By Country
Marketwatch News
UPI News
Comtex News

IPO News
Islamic Finance News
Private Equity News

How-To Guides
Technology Section

Travel Section

Search News

Market Indices
Quotes & Charts

Global Indices
Arab Indices

US Markets Details

Commodoties

Oil & Energy

Currencies Cross Rates
Currencies Updates
Currency Converter

USA Stocks
Arab Stocks
 

Algeria 
Bahrain 
Egypt 
Iraq
Jordan 
Kuwait 
Lebanon
Morocco 
Oman 
Palestine
Qatar 
Saudi Arabia 
Syria
Tunisia 
UAE 
Yemen

Weather
Investment Game
Economic Calendar
Financial Glossary

My MENAFN
Portfolio Tracker

Voting

Financial Calculators

RSS Feeds [XML]

Corporate Monitor

Events

Real Estate
Submit Your Property

Arab Research
Buy a Research

Press Releases
Submit your PR

Join Newsletters


 
© 2000 menafn.com All Rights Reserved.  Terms of Service | Privacy Policy | Contact Us | Advertise | About MENAFN | Career Opportunities | Feedback | Help