The Real Estate Development Fund announced today that it has deposited more than 842 million riyals in the accounts of citizens who are beneficiaries of the “Residential” program from the Ministry of Municipal and Rural Affairs and Housing and the Real Estate Fund for the month of June 2022, confirming the continuity of housing support for families to own their first home.

Mansour bin Madi, CEO of the Fund, said that the total support for June amounted to SR 842 million, which was allocated to support the profits of subsidized mortgage contracts, explaining that the total amount deposited in the accounts of residential beneficiaries since the announcement of the transformation program in June 2017 until June 2022 exceeded SR 38.4 billion.

Mansour bin Madi, CEO of the Fund, said that the total support for June amounted to SR 842 million.

He stressed the continuity of housing support for the beneficiaries of the "subsidized loan", explaining that the beneficiaries entitled to housing support have 9 financing and housing options that give them flexible and diverse solutions, in accordance with their needs and financial capabilities to own a home with ease and ease.

He added that the packages are another option for housing support and confirm the joint efforts with the housing system to achieve the goals of the housing program to raise the ownership rate to 70 percent and provide housing and financing solutions in a sustainable manner by building supporting systems and legislation.