The Board of Directors of the Real Estate Development Fund also approved the establishment of partnerships with developers. <It was also approved to hold partnerships with developers to develop residential and commercial areas in targeted areas and cities according to a mechanism that includes the necessary controls and requirements, This is with the aim of raising the efficiency of the Fund's capital by taking advantage of the possibilities available to it and activating the options provided by its system, in implementation of the Board's desire to invest part of its capital in accordance with paragraph 2 of Article 3 of the Real Estate Development Fund Law issued by Royal Decree No. M / 23 dated 11/6/1394 H in contributing to the development, development and improvement of cities, especially the inner parts of large cities, especially cities that suffer from a shortage of residential land.
The Board of Directors of the Real Estate Development Fund also approved amending some of the titles and merging some departments of the Fund to be consistent with the new phase of the Fund and its future directions, in addition to approving that the Fund begins to study the assignment of management, supervision and maintenance of common service facilities in the Fund's housing buildings to owners' associations, provided that this is coordinated with the relevant authorities to carry out their assigned tasks, as well as approving the scholarship of a number of Fund employees to study the financial analysis program in the United States of America.
The Vice President of the Board of Directors of the Real Estate Development Fund valued the contribution of the Fund's employees to the development and improvement of cities, especially the inner parts of large cities, especially the cities with a shortage of housing land. The Vice Chairman of the Board of Directors of the Fund, Director General of the Fund, Engineer Yousef bin Abdullah Al-Zughaibi, praised the Chairman of the Board and the members for their support for the Fund's development directions, stressing that such decisions and the previous decisions of the Board pushed the Fund to an important stage in its practical career to effectively contribute to achieving the vision of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud - may God protect him - to provide adequate housing for every citizen.
Report of the Board of Directors of the Fund
