The Real Estate Development Fund deposited more than 805 million riyals into the accounts of “Sakani” beneficiaries from the Ministry of Municipal, Rural Affairs and Housing and the ”Real Estate Fund” in December 2021, and allocated support for the profits of subsidized mortgage contracts.

On this occasion, Mansour bin Madi, the Fund’s CEO, explained that the total amount deposited into the accounts of “Sakani” beneficiaries since the announcement of the transformation program in (June) 2017 until December 2021 exceeded 33.3 billion riyals, emphasizing the Fund’s commitment to continuing to deposit monthly subsidies regularly to support increasing home ownership rates among Saudi families. Bin Madhi noted that the diversity of programs and initiatives, the provision of various financing options and solutions, and the automation of electronic services have contributed to accelerating the pace of home ownership among citizens through an effective partnership with the housing system and financing entities.

Bin Madhi noted that the total number of beneficiaries of the “Subsidized Loan” program during the period from June 2017 to December 2021 exceeded 580,000 beneficiaries. The Real Estate Development Fund provides “subsidized mortgage” services through more than 43 electronic services via the Fund’s website, in addition to the real estate advisor service and self-service kiosks at the Fund’s branches, available 24 hours a day. The unified call center and social media channels also respond to beneficiaries“ inquiries and questions regarding the ”subsidized loan.”