The Jood Eskan platform announced that it achieved the goal of its Jood Housing Charity IPO-Style Campaign 13 days after launching it, with charitable donations contributing to securing houses for 3,500 needy Saudi families.

Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and His Royal Highness Prince Mohammed bin Salman bin Abdulaziz, Crown Prince and Prime Minister, inaugurated the campaign on the first day of Ramadan by making two generous donations amounting to SAR150 million. These initial contributions, given through the Jood Eskan platform, further demonstrate the leadership’s commitment to supporting all efforts and initiatives that provide housing for needy families.

Several partners in the public and private sectors lend their support to this not-for-profit endeavour such as the General Authority of Awqaf, the National Housing Company, Al-Rajhi Bank, stc group, mbc group, Al-Arabiya channel, Ajlan & Brothers Group, Sumou Real Estate Company, Khuzam Real Estate Company, and Al-Arabiya Outdoor Solutions Provider.

The campaign also witnessed remarkable interaction from government officials, businesspeople, the community, and both media and social media platforms. It featured a dedicated location hosting a nightly event welcoming all visitors to witness the daily progress of the campaign.

The “Evergreen Stock”, Jood Eskan’s charitable creative campaign, is an IPO simulation that targets Saudi Arabia’s most prominent corporations, institutions, individual investors and the public. Inspired by the financial markets, the campaign’s creative concept turns on the IPO fundraising method by selling “stocks” through goodwill and charitable contributions, to encourage community members and private sector players to “invest” in their community. The “Evergreen Stock” campaign began on the first day of Ramadan, offering 100 million stocks at SAR10 per share; it is designed to raise awareness about the importance of investing in community-driven social initiatives.

Commenting on this occasion, Minister of Municipal and Rural Affairs and Housing and Chairman of the Board of Trustees of the National Developmental Housing Corporation (Sakan) Majid bin Abdullah Al-Hogail said: “We, in the Kingdom of Saudi Arabia, are grateful for the Saudi leadership’s generous sponsorship for Jood Eskan Charity IPO-Style campaign, and for the donations of the campaign partners and community members, which played a role in achieving this outstanding record and exceeding the target amount of SAR1 billion to provide housing for more than 3,500 families in need, thus contributing to changing their lives for the better, and we are moving forward aspiring to achieve higher targets by the end of the holy month of Ramadan.”

The Jood Eskan platform is one of the initiatives of the National Developmental Housing Corporation (Sakan), a non-profit arm of the Ministry of Municipal, Rural Affairs and Housing, which aims to engage society members in community development programmes and achieve social solidarity, based on a mechanism that ensures the delivery of charitable donations to those who need them.

Source: Saudi Press Agency