The Real Estate Development Fund will announce the names of the beneficiaries of the second batch of the Fund’s loans in mid-March of this month.

Fund spokesperson Hamoud Al-Osaimi explained that the lending process has been affected by the failure of some previous borrowers to make payments on the specified dates, which has impacted the Fund’s financial resources; as proceeds from previous loans are re-lent to those on the waiting lists, noting that amounts owed to the Fund exceeded 30 billion riyals.He noted the Fund’s efforts to reduce loan waiting times and develop programs that enable citizens to obtain suitable housing, highlighting the importance of the annual support the Fund receives from the state.