The Ministry of Housing plans to launch a residential renovation loan initiative to buy and maintain older homes

Well-informed sources have revealed that the Ministry of Housing intends to launch the Residential Renovation Loan Initiative (Tajdid) during the second quarter of 2019, The new initiative aims to diversify and expand the range of loans offered by the Ministry, enabling the purchase, maintenance, and renovation of older homes through favorable, subsidized loans. This initiative was launched in response to the desire of a large segment of the population to purchase existing homes in established neighborhoods in most cities across the Kingdom, particularly the major cities.

For his part, The Housing Program announced that it is fully prepared to launch the initiative, explaining that all aspects related to the initiative have been studied, developed, and refined to meet citizens" needs. The target buildings are expected to be more than 8 years old, and the initiative will run for 6 months from its launch date.

The Residential Renovation Loans Initiative (Tajdid) is the first of its kind, as it allows citizens to purchase a home that suits them in the neighborhood of their choice and renovate it as they wish with favorable loans, It also enables beneficiaries to take advantage of suitable opportunities that arise in the real estate market.

Links and News and Related Articles

Real Estate – Mortgage Financing – Home Buying – Construction Expo – Auctions – Home Buying – Residential Units

»Amlak" Surveys Participants at the 2018 Construction Expo; Exhibitors: Strong Turnout by Local and Foreign Companies Confirms the Strength of the Saudi Construction Market

Quality testing is recommended during construction phases — Engineer Mazkar Al-Qahtani gives a lecture at the Saudi Construction Expo 2018

Everything the construction market needs under one roof... More than 500 companies are showcasing their latest products at the Saudi Construction Expo 2018

In collaboration with the Construction Technology Incentive Initiative... The Eastern Province Chamber of Commerce is organizing a workshop tomorrow, Thursday, on ”The Construction Technology Revolution in Housing"

$30 billion in hotel construction contracts in the Middle East through 2023

Real Estate – Mortgage Financing – Home Buying – Construction Expo – Auctions – Home Buying – Residential Units

• The ”SARC 5" Real Estate Conference kicks off tomorrow, Wednesday, to discuss laying the right foundations for resolving real estate issues... With Amlak newspaper as a specialized sponsor
• Amlak Newspaper as a Co-Media Sponsor... ”Wafix 2019" Kicks Off Today in Jeddah, Showcasing the Most Prominent Off-Plan Projects and Attracting Global Expertise
• In the presence of the Minister of Housing... The ”Housing Finance in Saudi Arabia" conference kicks off today in Riyadh, with 26 experts discussing the sector’s challenges
• The Future Projects Forum showcases 600 projects with an estimated value exceeding 450 billion riyals... 662 projects worth 40 billion riyals have stalled
• Kicking off on March 9… ”Wafix 2019" showcases the most prominent off-plan projects in Jeddah… with the UAE as the guest of honor
• The ”SERC 5" Real Estate Conference kicks off on March 6 to discuss Ministry of Justice reforms, title clearance services, and construction technology, while highlighting the role of the International Real Estate Federation
• 428 A facility operating in the tourism sector with funding of approximately 1.1 billion... and 153 companies entering the sector this year
• The Riyadh Real Estate and Urban Development Exhibition “Restatex 2019” Kicks Off on April 21