Engineer Yusuf bin Abdullah Al-Zaghibi, Director General of the Real Estate Development Fund, explained that the Fund allows citizens who have applied for loans from the Fund to request that the Fund suspend their applications and not issue approval until they are ready to utilize the loans.
He said that the Fund has recently received several inquiries regarding the one-year time limit for loan approvals, noting that the general rule is that those who receive loan approval must be ready to utilize it or allow others the opportunity to do so.
Meanwhile, the Fund’s Director General is currently visiting the Jazan region to attend the opening of the first housing project undertaken by the Ministry of Housing and to attend the handover ceremony for the first housing units being distributed by the Ministry.