The Fund’s official spokesperson, Hamoud Al-Osaimi, called on all beneficiaries covered by the decision to extend the deadline for citizens who are late in receiving their mortgage loans to quickly complete their procedures and take advantage of the various financing solutions offered by the “Subsidized Financing” program “Subsidized Financing” program, which the Fund has established to align with the capabilities and aspirations of the beneficiaries on its lists.
Al-Osaimi explained that the decision grants beneficiaries an additional year, beginning on the 26th of Shawwal 1439 and ending on the 25th of Shawwal 1440 AH, and comes as part of the Fund’s commitment to implementing the National Transformation Program 2020, which aims to raise the percentage of Saudis who own their homes to 60% as a preliminary step toward raising it to 70% by 2030.
The Fund clarified that this decision applies to beneficiaries whose loan applications were previously approved as of Sha’ban 22, 1429 (10 years ago or less prior to the date of the Board meeting).
It is worth noting that in March 2016, the Real Estate Development Fund decided to extend the grace period granted to citizens whose loan applications had been approved by an additional two years, beginning on 26 Shawwal 1437 and ending next Shawwal.
