The value of financing contracts signed by the Real Estate Development Fund in 2021 exceeded 182,000 financing contracts worth over 114 billion riyals, exceeding the target of 140,000 contracts by about 30 percent, bringing the total number of beneficiaries of the subsidized mortgage program to over 600,000, with a total value of 33.5 billion riyals from June 2017 through 2021, in line with the Kingdom’s Vision 2030 goals for balanced urban development.  

Mansour bin Madi, the fund’s CEO, explained during the “Housing Forum 2022" that the affordable mortgage program enabled 35,000 beneficiaries to become homeowners, and that more than 26,000 beneficiaries had benefited from the guarantee program by the end of 2021.

He emphasized that the Fund continues to adopt a digital transformation strategy to facilitate electronic home ownership for beneficiaries, having processed more than six million transactions through its online platforms, while the ”Real Estate Advisor” app continued to provide financing services to more than 1.4 million beneficiaries and issued nearly one million financing recommendations.