After a long wait, scrutiny and arrangements that took a long time, the Real Estate Development Fund announced the launch of the accelerated loan program in cooperation with Al Rajhi Bank, and according to the Fund's statistics, the new product targets 40% eligible citizens on the waiting list, to contribute to the immediate financing of ready-made housing units. In light of this, the applicant obtains the loan from Al-Rajhi Bank directly and immediately, with a maximum limit of SAR 500,000, and is repaid in a maximum period of 15 years without interest, provided that the Fund pays the interest on behalf of the citizen during the term of the loan, and the reduced financing cost of 1% will be added to this.

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The importance of this product stems from several angles, the most important of which is that it is the only alternative to the suspension of new mortgage loans since October last year, a trend that is in line with the National Transformation 2020 points and we notice this in its compatibility with the clear decline in the size of direct government support for real estate loans, and the use of partnership solutions with financing facilities and the real estate development sector to offer financing products with very low interest rates, or affordable housing.

In light of this, reactions varied among social media circles between supporters and opponents of the program. Supporters believe that it is an expected step that contributes to reducing the housing gap that has dominated the real estate scene for a long time, because the loan has flexibility and incentives that make the eligible person voluntarily choose to buy his new home, ending the era of rents and the consequent shortcomings, Others believe that the loan will revive the sale of villas and apartments after a long stagnation in the real estate market, because the loan is concerned with the direct approach to buying ready-made housing units, achieving a number of goals, including the use of private sector institutions in financing, reducing the cost of construction and reducing the percentage of waste in the use of building materials.

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While opponents believe that the value of the loan is insufficient to buy a home and may need another loan to supplement the purchase amount, causing the citizen to default on his financial obligations to others, and another team of analysts put the accelerated loan as a real savior for real estate dealers because of the availability of liquidity with the possibility of selling at the required price for the borrower to pay the high price, on the other hand, landowners aspire to include them in a clause that allows them to benefit from the accelerated loan to help them in construction operations, because the Fund previously forced the citizen to have land to obtain a loan.