The Steering Committee of the Real Estate Developers Empowerment Program “Tatweer,” affiliated with the Real Estate Development Fund, has approved providing support and financing to a number of real estate development companies in partnership with financial institutions to establish residential projects in various regions of the Kingdom.

This decision was made during the third meeting of the Steering Committee at the Fund’s headquarters in Riyadh, where several topics were discussed and strategic partnership agreements with approved financing institutions were reviewed.

The role of the committee, which was formed by a decision of His Excellency Majid Al-Hogail, Minister of Municipal, Rural Affairs, and Housing, is to ensure the integrity of procedures, thereby enabling real estate development institutions and companies to obtain the necessary financing from financial institutions, in line with the strategic objectives of the “Tatweer” program.

The “Tatweer” program aims to build an effective partnership between real estate development entities and financial institutions to enhance competitiveness in offering a diverse range of high-quality housing products at competitive prices across various regions of the Kingdom. The program serves as a platform to facilitate access to necessary financing for sector institutions and companies, enabling them to increase the real estate supply, address the challenges they face, promote balance, and achieve balanced urban development.

The Real Estate Fund noted the signing of six strategic partnership agreements with a number of financing institutions to activate the role of the “Tatweer” in achieving its strategic objectives, noting that sector entities can apply for and benefit from “Tatweer” services through the Real Estate Development Fund’s online portal.