Aujan Launches 'My First Home' Program for Young Arab Families

Aujan, a non-profit social financial organization, in collaboration with the Economic Development Authority at the Ministry of Social Equality, has launched a new initiative called 'My First Home.' This program is designed to support young families within the Arab community who are planning to purchase or build their first residence.

The program aims to empower these families economically by providing comprehensive financial guidance for eight months or more. It includes access to subsidized mortgage consultants and assistance in developing personalized family financial plans. The initiative seeks to guide families through the process of homeownership, from financial organization to securing a mortgage.

Khaled Hassan, Aujan's Arab Community Director, stated that this is the first time such a program has been offered in cooperation with the Economic Development Authority, specifically targeting young families in the Arab community. He emphasized that the program helps families organize their finances, understand their economic capabilities, and prepare more effectively for the mortgage application process.

'My First Home' offers practical tools for managing daily expenses, increasing personal capital, reducing fixed costs, understanding mortgage details, and improving financial negotiation skills. Aujan encourages young couples, beneficiaries of the 'Price for the Resident' program, and anyone aspiring to own their first home to utilize this program.

Aujan also advises young couples that saving for a down payment is achievable through financial management adjustments. The program guides couples through a joint process of mapping expenses, prioritizing needs, and identifying areas for potential savings, asserting that small, consistent sacrifices can accumulate into a significant sum for a down payment.