The Real Estate Development Fund announced today that it deposited more than 839 million riyals in the accounts of citizens from the beneficiaries of the “Residential” program for March 2022, continuing the Fund's efforts to support mortgage loans for the first home for Saudi families.Mansour bin Madi, CEO of the Fund, explained that the total amounts were allocated to support the profits of subsidized mortgage contracts, indicating at the same time that the total amount deposited in the accounts of the beneficiaries of “Residential” since the announcement of the transformation program in June 2017 until March 2022 amounted to about 36 billion riyals.

Mansour bin Madi, CEO of the Fund, explained that the total amounts allocated to support the profits of subsidized mortgage contracts. <The CEO of the Real Estate Development Fund stressed the Fund's keenness to continue housing support through the various financing and housing options provided by the subsidized mortgage program and other supportive programs to facilitate and simplify the procedures of citizens“ ownership of housing. <Mansour bin Madi said that the integration of the financing and housing efforts made by the housing system in partnership with the financing agencies, in addition to the automation of services electronically, contributed to providing support on time and accelerating the pace of ownership and completion of procedures, with the aim of increasing the ownership rate to 70 percent by 2030, according to the targets of the “Vision 2030” programs, and providing housing and financing solutions sustainably by building supportive systems and legislation.
It is noteworthy that the Real Estate Development Fund provides “subsidized mortgage loan” services through more than 43 electronic services through the Fund's electronic portal, in addition to the real estate advisor service, self-service devices in the Fund's branches 24 hours a day, and the unified call center and social media channels respond to inquiries and questions from beneficiaries about the "subsidized loan".