Three-party agreement to launch the “Empowerment and Housing” initiative to promote residential stability
National Development Housing FoundationSakan, and the Kafa’a Association for Operation and Maintenance, to launch the “Empowerment and Housing” initiative, which aims to promote housing stability and economic and social empowerment for the beneficiary groups.
The agreement was signed on behalf of “Support and Empowerment of the Mobile Trader” by Her Royal Highness Princess Najoud bint Hathloul bin Abdulaziz Al Saud, on behalf of “Sakan” by Secretary General Rashid bin Mohammed Al-Jalajel, and on behalf of “Kafa’a for Operation and Maintenance” by Chairman of the Board Ahmed Al-Otaibi, in the presence of a number of specialists and those interested in the non-profit sector, community development and developmental housing.
Providing housing solutions
The initiative aims to provide developmental housing solutions by studying the social and housing conditions of beneficiaries, and providing housing programs and products that contribute to improving the quality of life and enhancing family stability, in support of the goals of sustainable social development.
The agreement also includes the implementation of a number of housing development programs, most notably the “Waad” program for usufruct ending with ownership, in partnership with relevant financing and development entities, within an integrated system aimed at supporting beneficiary groups and enhancing their housing stability.
Integration to achieve residential stability
Her Royal Highness Princess Najoud bint Hathloul bin Abdulaziz Al Saud affirmed that the initiative represents a model of integration between development and non-profit entities, noting that housing stability is one of the essential enablers for the sustainability of the mobile trader’s business and improving the quality of his life and the life of his family, which enhances the impact of the initiative in empowering the beneficiary groups economically and socially.
The agreement comes as part of the qualitative initiatives and partnerships witnessed by the fourth edition of the IENA International Exhibition for the Non-Profit Sector, in support of the objectives of Saudi Vision 2030, and to enhance the role of the non-profit sector in sustainable development and empowering beneficiary groups.
