The «Self-Construction» product in resolving issues for approximately 70 % people on the Real Estate Fund’s waiting lists.
This was revealed by the General Supervisor of the Real Estate Development Fund and the "Sakani" program , which was launched and signed with four financing entities during the first phase, with the number expected to reach eight during the fourth phase of «Sakani 2.» He explained that the «self-construction» product will be activated through banks and financing institutions, with a total amount of 500,000 riyals disbursed to the beneficiary in installments based on the stages of construction completion, with the Fund subsidizing the loan interest according to the beneficiary’s creditworthiness.He added: “The applicant must have been approved and must be interested in obtaining subsidized financing for self-construction (‘construction’), Applicants must update their information on the Real Estate Development Fund’s online portal and then schedule an appointment in advance through the Fund’s portal for this purpose.
