The Real Estate Fund confirmed during the meeting organized by the King Abdulaziz Center for National Dialogue last Tuesday, June 6, 2017, entitled “The Future Role of the Real Estate Development Fund”, that the Fund to remove the fog that surrounds many of the programs of the Real Estate Fund and its details are hidden from many citizens, media and real estate, based on the principle of transparency between the Fund and various media agencies, and the meeting aimed to guide public opinion towards the correct understanding of the Fund's programs.
The meeting was graced by the General Supervisor of the Real Estate Development Fund, Mr. Ayham Al-Yousef, in addition to a number of economists, leaders and those interested in real estate, media professionals and writers concerned with real estate, and a number of real estate developers. This comes within the framework of the efforts of the center to open channels of dialogue and communication between government and private institutions and various segments of society to establish bridges of communication and interaction between society and decision makers in those bodies.
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Shedding light on subsidized financing programs
The meeting presented the controls that regulate subsidized financing according to the number of family members, income level and age.
Subsidized financing achieves several advantages:
- Authorized by the Shari'ah Board.
- Minimum subsidized financing: As per the Fund's policy.
- Maximum subsidized financing: SAR 500,000.
- Benefit from the soft mortgage product (reducing the down payment from 15% to 10%).
- That is, the beneficiary can obtain financing from a bank or finance company equivalent to a maximum of SAR 500,000 and the Fund will subsidize the costs of this financing for the beneficiary.
