Real Estate Development Fund deposited SAR 853 million in the accounts of “Residential” beneficiaries from the Ministry of Municipal and Rural Affairs and Housing and the Real Estate Fund for July 2022.
The CEO of the Real Estate Development Fund, Mansour bin Madi, said that the amount was allocated to support the profits of subsidized mortgage contracts, indicating that the total amount deposited in the accounts of residential beneficiaries since the announcement of the transformation program in June 2017 until July 2022 amounted to about 39.2 billion riyals.
The CEO explained that the housing support programs enable those who meet the conditions and sign a new financing contract to benefit from housing support in two ways: Either by supporting the profits of the mortgage loan during the financing period, or obtaining a non-refundable housing subsidy upon signing the contract from the housing support packages, stressing the importance of the complementary partnership with the approved financing entities to achieve the objectives of the housing program - one of the programs of the Kingdom's Vision 2030 - by raising the ownership rate to 70% and providing housing and financing solutions sustainably by building supportive systems and legislation.
He explained that the housing support programs enable those who meet the conditions and sign a new financing contract to benefit from housing support in two ways.
Bin Madi pointed out that “Sakani” provides nine options within more solutions for families to own their homes, including 4 subsidized mortgage products and 5 housing support packages, pointing out that the number of beneficiaries of the subsidized loan program and supporting programs reached more than 660 thousand beneficiaries until the end of the first half of the current calendar year.
It is noteworthy that the Real Estate Development Fund provides services for housing support programs through 43 electronic services, in addition to the real estate advisor service and self-service devices in the Fund's branches 24 hours a day, and the unified call center 199088 and social media channels respond to inquiries and questions from beneficiaries about the "subsidized loan" and housing support packages.
The number of beneficiaries of the subsidized loan program and support programs reached 6,000 beneficiaries by the end of the first half of the year.
