Saudi Arabia’s Ministry of Housing has launched the first phase of its “My House” initiative that will be given to nationals depending on income level and the number of family members.

The program will also include nearly 280,000 residential and funding products for the allocation and delivery in all regions of Saudi Arabia.

The launch of the project was confirmed during a cabinet meeting chaired by King Salman bin Abdulaziz.

“In addition, 75,000 residential lands will be made ready for construction as well as 85,000 funding support with costs will be subsidized by the State in partnership between Real Estate Development Fund, Banks and Financial Institutions,” an official statement from Saudi Press Agency read.