The Public Pension Agency (PPA) has confirmed that government employees and retirees subject to the social insurance system can benefit from the “Masaken” real estate financing program, which is managed by Dar Al-Tamleek. Fahad Al-Saleh, PPA spokesperson, explained the organization's keenness to expand the base of beneficiaries of the “Masaken” program to include, in addition to state employees and retirees subject to the civil and military retirement system, employees and retirees of government agencies subject to the social insurance system.

Fahad Al-Saleh, the official spokesperson of the organization, explained “Masaken” program is characterized by a Sharia-compliant mortgage with fixed installments that do not change, and finances the applicant up to the age of 70 years, indicating that the applicant can transfer his salary to any local bank he wishes to deal with, and the applicant can obtain a grace period, where the first installment payment starts after 6 months from the date of receiving the property and many other benefits.

Saleh said that the program is characterized by a grace period, where the first installment payment starts after 6 months from the date of receiving the property and many other benefits. The Public Pension Agency and Dar Al-Tamleek recently signed a joint agreement with the Ministry of Housing and the Real Estate Development Fund to finance state employees ”retired” civilians and military personnel, or those who are currently working and close to retirement age and whose names have been issued by the Fund.

The Public Pension Agency and Dar Al-Tamleek recently signed a joint agreement with the Ministry of Housing and the Real Estate Development Fund.