The Real Estate Development Fund today that it has deposited more than 925 million riyals into the accounts of beneficiaries “Sakani” from the Ministry of Municipal, Rural Affairs, and Housing and the ”Real Estate Fund” for March 2023, as part of ongoing efforts to support beneficiaries and achieve the goals of the Housing Program—one of the Saudi Vision 2030 programs – to raise the rate of home ownership among citizens to 70%.

The Fund’s CEO, Mansour bin Madi, explained that the total support for the current month of March was allocated to subsidize the profits from various housing support program contracts, noting that the total amount deposited into Sakani beneficiaries“ accounts since the announcement of the transformation program in June 2017 through March 2023 exceeded 46.2 billion riyals.

Bin Madhi explained that the Fund has launched the second phase of financing product governance and has provided an online service that allows beneficiaries of the self-build program to update the construction progress of their homes, as part of its commitment to ensuring the continuity of housing support. He emphasized the importance of ”self-build“ beneficiaries directly overseeing the construction phases of their homes and monitoring their completion and readiness for occupancy in accordance with approved engineering and technical standards, thereby ensuring the Fund’s support for program beneficiaries and facilitating their journey toward homeownership within the timeframe stipulated in the financing contracts and the housing support regulations.

It is worth noting that "Real Estate Fund” provides housing support program services through more than 43 digital services via the Fund’s online portal and the Real Estate Advisor platform, in addition to self-service kiosks available 24 hours a day at all its branches, while the unified call center at 199088 and social media channels respond to beneficiaries’ inquiries and questions.