The Real Estate Development Fund launched its innovative “Alternative Financing” program today, This financing approach aims to strengthen the housing finance system in the Kingdom of Saudi Arabia by increasing banks“ lending capacity, thereby helping more families purchase their first home.
The ”Alternative Financing" program enables the Real Estate Development Fund to provide support to beneficiaries in collaboration with participating banks. The program strengthens the housing support system offered by the Fund and expands access tohomeownership in a sustainable manner.

The first phase of the program was launched through a strategic partnership with the Saudi National Bank (SNB) and the National Housing Company (NHC). The Real Estate Development Fund provides the necessary support for the issuance of real estate financing by the Saudi National Bank (SNB), while the National Housing Company (NHC) makes selected units available to Saudi citizens wishing to purchase their first home.

Purchasing Homes in Selected Projects
Eligible customers can purchase homes in selected projects developed by the National Housing Company (NHC) in Riyadh, Jeddah, and Dammam, with monthly installments starting at just 699 Saudi riyals.
Customers benefit from immediate financing approval, providing a seamless experience from application submission to obtaining financing approval for the purchase of their new home. The CEO of the Real Estate Development Fund, Engineer Luay bin Mohammed Al-Nahid, said: "The alternative financing program provides support that enables more first-time homebuyers to access housing finance and contributes to building a stronger and more flexible housing finance system in the Kingdom.“

He added: ”Our collaboration with the Saudi National Bank and the National Housing Company combines financing with the provision of housing supply and government support into a unified customer journey, serving as a practical example of how strategic partnerships can facilitate, accelerate, and make homeownership accessible to Saudi families. As the “alternative financing” model expands to include additional banking partners, the Real Estate Development Fund expects the program to contribute to increasing lending capacity across the sector, providing greater liquidity within the financial system, and supporting higher levels of real estate financing issuance.