The Real Estate Development Fund has approved an extension for 90,000 eligible citizens who had previously received approvals. In its report scheduled for discussion at the Shura Council next Tuesday, the Fund noted that it would not be able to process their applications under its previous system, as doing so would cover only 30,000 applications. It indicated that it would apply the current procedure to them, which is to refer them to banks.

The Fund emphasized the importance of regular loan repayments to ensure the sustainability of lending, noting that if it continued with the previous loan disbursement system, it would not exceed 12,000 loans per year. It added that through the modern approach—in cooperation with banks, financial institutions, and financing companies—it can process 85,000 loan applications annually.