The Real Estate Development Fund confirmed its intention to implement a new classification system for beneficiaries, with the aim of excluding those in default, based on data from the Saudi Credit Bureau “SIMAH.”

In other news, Khalid Al-Amoudi, General Supervisor of the Real Estate Development Fund, explained that the fund is considering launching a center to support recipients of subsidized financing due to poor coordination between individuals and the financing sector, explaining that the center will assist those eligible for real estate financing who face difficulties in obtaining it, as well as accept applications from those seeking financing to build their own homes—known as self-financing.

Al-Amoudi emphasized that the Fund continues, through the “Sakani” program installments, to reduce waiting lists and expedite access to subsidized financing in partnership with banks and financial institutions.