The Real Estate Development Fund announced that it deposited more than 847 million riyals in the accounts of citizens from the beneficiaries of the “Residential” program for April 2022, confirming the continuity of support on time every month for beneficiaries of the subsidized mortgage loan program.

The CEO of the Real Estate Development Fund, Mansour bin Madi, explained that the total support for the month of April exceeded 847 million riyals, fully allocated to support the profits of subsidized mortgage loans, indicating that the total amounts deposited in the accounts of “Residential” beneficiaries since the announcement of the transformation program in June 2017 until the end of April amounted to about 36.8 billion riyals.

Bin Madi stressed the continuity of providing financing and housing options and supporting programs to benefit from the subsidized mortgage loan program, noting that the "subsidized loan" in partnership with the financing authorities during the first quarter of the current year 2022 enabled more than 35 thousand Saudi families to own housing.

The CEO of the Fund indicated that the deposit of housing support on time is a confirmation of the joint efforts and partnership with the housing system and the financing authorities to increase the ownership rate to 70% by 2030, according to the targets of the housing program - one of the programs of the Kingdom's Vision 2030 - and provide housing and financing solutions sustainably by building supportive systems and legislation, explaining that the total beneficiaries of the "subsidized loan" since its inception in June 2017 until the end of Q1 2022, more than 635 thousand families in various regions of the Kingdom.

The total beneficiaries of the "subsidized loan" since its inception in June 2017 until the end of the first quarter 2022, more than 635 thousand families across the Kingdom.