The Real Estate Development Fund and the National Housing Corporation (NHC) signed a joint cooperation agreement aimed at enhancing the quality of real estate offerings and to provide technical and engineering inspection services through the Sustainable Construction Program for beneficiaries of subsidized mortgage loans, in accordance with the Real Estate Fund’s standards and requirements. The signing took place in the presence of His Excellency the Minister of Municipal, Rural Affairs, and Housing, Mr. Majid bin Abdullah Al-Hogail.

The agreement comes within the framework of strengthening joint cooperation between the “Real Estate Fund” and ”National Housing,” thereby enabling beneficiaries of the “Subsidized Loan” program to access the services of the “Sustainable Construction” program; to verify the quality of building construction and ensure compliance with the Real Estate Fund’s requirements, based on technical and engineering inspection phases, and to confirm that the buildings are ready for occupancy and have access to basic services, such as water and electricity; To achieve the objectives of the Housing Program (one of the programs under the Kingdom’s Vision 2030), which prioritizes sustainability by aiming to ensure the sustainability of the housing system in all aspects, including: sustainable financing and spending, as well as promoting a culture of green buildings and ensuring that the Saudi Building Code reflects sustainability principles.

The agreement was signed on behalf of the Real Estate Development Fund by Saud Al-Ajmi, Vice President of Shared Services, and on behalf of “Al-Wataniya Housing” by Engineer Rayan Al-Aql, Head of the Individual Solutions Sector.