Amoudi explained that the Fund's declared capital is 191 billion riyals, and it is the largest real estate finance fund in the world, but the outstanding loans from 2011-2016, in addition to previous loans, will total about 17 billion riyals. Al-Amoudi explained that the announced capital of the fund is 191 billion riyals, which is the largest real estate finance fund in the world, but the outstanding loans in the period from 2011-2016, in addition to previous loans, will total about 157 billion riyals; of which 32 billion riyals are previous loans that have not been repaid so far.
Amoudi pointed out that the total liquidity currently available to the fund is for new loans.
Al-Amoudi pointed out that if the current liquidity is disbursed according to the old system, 500 thousand riyals per family, it will benefit only about 34 thousand families who are on the waiting lists and were approved before 2017, out of 480 thousand families registered in the Fund's lists.
Al-Amoudi added that the current liquidity will be disbursed during the first year of the Fund's existence. He added that during the current year, the number of beneficiaries will increase to 100,000 families on the current waiting lists, with each family allowed to obtain the loan within two years of the approval, expecting the completion of all waiting lists in 2020.
He added that the number of beneficiaries will increase to 100,000 families who are on the current waiting lists.
