The Real Estate Development Fund announced the launch of the Self-Build Package for beneficiaries “Sakani” beneficiaries who wish to build their own homes, in partnership with the First Saudi Bank, with the aim of improving beneficiaries“ ability to cover the costs of the various stages of building their homes, thereby achieving the objectives of the Housing Program, one of the programs under the Kingdom’s Vision 2030.
The Fund explained that the Self-Build Package allows beneficiaries of the Self-Build product who wish to build their own homes to receive immediate, non-refundable support of up to 150,000 riyals, in addition to other benefits provided in partnership with financing institutions.
It noted that as part of joint efforts to empower beneficiaries of "Self-Build“ to cover the costs of the initial stages of building their homes, the value of the Self-Build Package support will be deposited in a single lump sum to the beneficiary upon signing the financing contract, in addition to increasing the down payment percentage received by the beneficiary upon signing the financing contract with the financing entity from 10% to 25%.
It is worth noting that the Real Estate Development Fund has provided the “Design Your Support” service through the Real Estate Advisor platform, which allows beneficiaries to select the appropriate housing product and tailor their support package to match their financial capabilities and actual needs for owning suitable housing.
