Ayham Al-Youssef, General Supervisor of the Real Estate Development Fund, revealed that the Fund has signed agreements with 10 of the 12 licensed local banks and 4 of the 6 financing institutions to provide financial support to beneficiaries.

Al-Youssef noted that the initial launch will be in collaboration with three banks—Riyad Bank, Al-Arabi Bank, and “Al-Bilad,” as well as ”Bedaya Finance,” given their readiness to serve beneficiaries, noting that the remaining entities will follow thereafter.
The General Supervisor of the Real Estate Development Fund explained that the financing costs borne by beneficiaries will be based on income and family size, noting that the lower the income, the higher the subsidy percentage, and the larger the family, the greater the support.

He confirmed that the financial support the Fund will provide through partnerships with banks and financial institutions over the course of a year will benefit 85,000 citizens currently on waiting lists.