The Real Estate Development Fund a joint cooperation agreement with the Saudi Credit Bureau “SIMAH,” with the aim of providing credit support and risk assessment to ensure that beneficiaries housing support programs access financing and housing products that match their financial capabilities and actual need for home ownership. This is part of ongoing efforts to improve housing affordability, achieve the goals of the housing program – one of the programs of the Kingdom’s Vision 2030 – and to raise the homeownership rate to 70% by 2030.
The agreement was signed on behalf of the Fund by CEO Mansour bin Madi, and on behalf of SAMA by CEO Suwaid bin Mohammed Al-Zahrani.
Mansour bin Madi, CEO of the Real Estate Development Fund, explained that the agreement aligns with the Fund’s pioneering role and supports its ongoing efforts to accelerate the pace at which beneficiaries acquire their homes, and provide them with access to financing and housing products through proactive analysis of the credit reports of beneficiaries of housing support programs. This ensures the development of diverse financing and housing programs and options in partnership with financial institutions, tailored to the financial capacity and actual needs of beneficiaries to own suitable housing.
