The Real Estate Development Fund announced today that it has deposited more than 761 million riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for the month of September 2021.
Mansour bin Madi, CEO of the Real Estate Development Fund, explained that this month’s total subsidy was allocated to profits from subsidized mortgage contracts, noting that the total amount deposited into the accounts of “Sakani” since the announcement of the Transformation Program in June 2017 until this September has exceeded 31 billion riyals.
Bin Madhi stated that the integration of electronic services between the “Real Estate Fund” and the housing system, as well as financing entities such as banks, finance companies, and real estate development firms, aims to facilitate and simplify the beneficiary’s journey toward owning suitable housing by taking advantage of the financing and housing options offered by the profit-subsidized mortgage program at a rate up to 100%, emphasizing the Fund’s commitment to depositing the monthly subsidy on time, thereby achieving the objectives of the Housing Program—one of the Vision 2030 programs —to increase the percentage of Saudi households owning their own homes to 70% by 2030.
It is worth noting that the Real Estate Development Fund continues to provide “subsidized loan” services through more than 43 e-services on the Fund’s website, www.redf.gov.sa, in addition to offering the top 5 financing recommendations via the Real Estate Advisor platform. while the unified call center at 199088 and social media channels respond to beneficiaries“ inquiries and questions regarding ”subsidized loans.”