Real Estate Fund begins investing its funds with Riyadh Development Authority

Posted in

<Engineer Yousef Al-Zughaibi, Director General of the Real Estate Development Fund, confirmed that the Fund is determined to move forward in investing part of its funds after the Board of Directors of the Real Estate Fund approved the investment of part of the Fund's capital; considering this an important qualitative leap to develop the Fund's resources, which has a capital of 191 billion riyals, depending on the borrower's repayment, and the government's repayment of the exemptions of deceased citizens. To activate this, a team from the Real Estate Fund was formed and has already started its meetings with the Supreme Authority for the Development of Riyadh City, to designate one of the areas in the center of the capital in preparation for expropriation, and then enter into various investments with investment financial institutions and developers to achieve the best utilization of the area by developing it by localizing residential, investment and commercial projects, after the Real Estate Fund expropriates the area.