Real Estate Finance - The Real Estate Development Fund announced today that it has deposited more than 623 million riyals in the accounts of citizens who are beneficiaries of the “Residential” program from the Ministry of Municipal and Rural Affairs, Housing and Real Estate Fund for January 2021.

Real Estate Finance

Mansour bin Madi, General Supervisor of the Fund, explained that the total support for the month of January amounted to 623 million riyals allocated to support residential mortgage contracts for Saudi families. He pointed out that the total amount deposited in the accounts of "Residential" beneficiaries since the announcement of the Fund's transformation program in June 2017 until this January exceeded 25.6 billion riyals. He stressed the Fund's keenness to deposit the support regularly and on time every month.

He emphasized the continuity and commitment of the Real Estate Fund to deposit the monthly support to the beneficiaries of “Residential” for 4 years since 2017 until now within the strategic objectives of the Fund to enable Saudi families to own the appropriate housing according to the financing solutions and housing options provided by the "Residential" website and application within easy and facilitated procedures.

And he emphasized the continuity and commitment of the Real Estate Fund to deposit the monthly support for the beneficiaries of "Residential" for 4 years since 2017 until now.

He said that the subsidized mortgage loan has enabled more than 424 thousand Saudi families to own their suitable housing until the end of 2020, through 40 electronic services, indicating the continuation of benefiting from the "subsidized loan" program within electronic channels that reduce effort and time from the beginning of application and ownership of suitable housing until the deposit of monthly support.

And he said that the subsidized mortgage loan has enabled more than 424 thousand Saudi families to own their suitable housing until the end of 2020, through 40 electronic services.