The financing solution comes within the framework of the strategic partnership between the Real Estate Development Fund and Al Bilad Bank to reduce the financing burden and rental costs for beneficiaries during the construction stages of their housing units until they receive them. The financing solution comes within the framework of the strategic partnership between the Real Estate Development Fund and Bank Albilad, with the aim of reducing the financing burden and rental costs on beneficiaries during the stages of building their housing units until they receive them, within the residential projects built on the lands of the Ministry of Municipal and Rural Affairs and Housing or through real estate developers in various regions of the Kingdom.
The financing solution comes within the framework of the strategic partnership between the Real Estate Development Fund and Bank Albilad. Real Estate Development Fund, explained that the financing solution is one of the financing solutions that offers a competitive advantage to those wishing to own residential units under construction; it aims to enable the beneficiary upon signing the financing contract for the product from the option of ownership with a monthly installment equal to the value of the housing subsidy per month or the option to pay a monthly installment until receiving the housing unit in the amount of 400 riyals if they wish to benefit from the down payment support package.
The “Your Support Equals Your Installment” financing solution will be implemented in partnership with Bank Albilad as part of the strategic partnership with financial institutions to provide competitive financing solutions and benefits that meet the actual need for the beneficiaries of the housing support programs to own suitable housing easily and easily, stressing the continuity of the partnership with financial institutions in providing competitive financing and housing solutions that achieve efficiency and effectiveness, and enhance the chances of owning suitable housing.
The Real Estate Fund stated that the financing solution will be implemented in partnership with Bank Albilad as part of the strategic partnership with financial institutions to provide competitive housing and financing solutions that achieve efficiency and effectiveness and enhance the chances of owning suitable housing. According to the Real Estate Fund, beneficiaries of “Sakani“ are entitled to benefit from the financing solution of your support equal to your installment for the product of residential units under construction, in addition to the other benefits of the housing support program, such as in-kind support, guarantees program, easy mortgage, and the state bears the real estate transaction tax for the citizen for the first home up to one million riyals of the value of the housing unit.
