Real Estate Development Fund recently announced its latest financing solution “Your Support Equals Your Installment” to increase the ability of beneficiaries to own housing units under construction to achieve the goals of the housing program - one of the programs of the Kingdom's Vision 2030.

Your Support Equals Your Installment, an innovative financing solution aimed at enabling citizens to own under-construction housing units more easily. This initiative comes as part of the Kingdom's efforts to achieve the targets of the Housing Program, one of the Vision 2030 programs, which aims to provide adequate housing for every citizen.

Features of the initiative:

• Easing the financial burden: The initiative aims to ease the financial burden on citizens during the construction stages of their housing units, by covering their monthly installment with the value of the housing subsidy, or by paying a symbolic monthly installment of 400 riyals until receiving the unit.
• Flexible options: The initiative offers beneficiaries two options:
  • Option One: Pay a monthly installment equal to the value of the housing subsidy.
  • Option 2: Pay a symbolic monthly installment of SAR 400 until the unit is delivered, while benefiting from the down payment support package.
• Strong partnership: The initiative is the result of a strategic partnership between the Real Estate Development Fund and Bank Albilad, with the aim of providing competitive financing solutions that meet the needs of citizens.
Additional Benefits:
• Recipients of the "Residential" program can benefit from the initiative.
• The initiative offers other benefits 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.

Conditions of benefit:

• Applicant must be a Saudi national.
• No previous ownership through any of the housing support programs.
• Sufficient monthly salary to pay the remaining installments of the housing unit.
• To meet the conditions of the "Sakani" program.

For more information:

• You can visit the website of the Real Estate Development Fund: http://portal.redf.gov.sa/
• or contact Bank Albilad at 920001000