With a value of 10 billion riyals, the Ministry of Housing intends to establish an endowment fund for affordable housing with a target return that exceeds the rates of return of current endowment investments. The initial size of the fund, through which the ministry intends to provide special financing products to finance and support housing cooperatives, will be 500 million riyals with a target return competitive with similar real estate investment funds in the region.

The ministry explained that it targets endowed businessmen in financing the Endowment Fund for Affordable Housing and all those who intend to make a charitable endowment, while financing the Housing Cooperatives Support Fund will be through offering it to investors looking for available investment opportunities.

The Ministry of Housing has recently signed a memorandum of cooperation with the Endowments Committee in the Riyadh Chamber in the field of sustainability of the resources of the cooperative and affordable housing initiative and increasing its financial resources through endowments, including the study of establishing an independent endowment fund for affordable housing in the Kingdom, and the Ministry recently discussed with the Islamic Development Bank to establish an investment fund and issue sukuk to finance the construction of housing units for housing cooperative associations in the Kingdom to support their achievement of their desired goals.