Real Estate Fund gives “subsidized financing” beneficiaries 24 months to pay their obligations with banks

Real Estate Fund - Real Estate

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<The Real Estate Development Fund gave the beneficiaries of the “Subsidized Finance” program 24 months to pay their obligations to the banks to obtain full support, and press sources confirmed that the obligations on the beneficiaries affect the value of the financing from the financier, indicating that paying these obligations is not mandatory to obtain support but is an initiative by the beneficiary to obtain full support.

If the beneficiary delays in applying for subsidized financing for more than two years, his right to subsidized financing will be forfeited at the end of the deadline, with the possibility of applying for housing support programs at the Ministry of Housing, and the beneficiary who has been approved for solidarity with their wives or assign it to their first degree relatives represented by father, mother, one son, one daughter, one brother or sister.

Sources said that the beneficiary's obligations affect the value of the subsidized financing, indicating that paying these obligations is not mandatory, but is an initiative of the beneficiary. It is worth noting that the Real Estate Fund pumps 7700 subsidized financing every month within the Residential Program adopted by the Ministry of Housing, with a total of 53.9 thousand beneficiaries.

The number of beneficiaries has reached 53.9 thousand.