After “Riyad Bank” was awarded the contract to manage and operate the investment loan program for individual and corporate real estate developers, media sources reported that the Real Estate Fund is launching a public tender for local financing institutions to fund owners of approved planned land parcels in major cities, with the aim of developing the infrastructure in those developments in accordance with specific conditions, including: that the area of each residential lot in these developments not exceed 600 square meters, that it be divisible into two lots, and that the developer commit to selling them off-plan under the supervision of the Authorized Appraisers Authority, at the prices offered by the authority prior to the commencement of those services, and that such financing be in the form of a soft loan with a term not exceeding 10 years, in each of the following cities: Makkah, Riyadh, Jeddah, Dammam, Madinah, and Al-Khobar.