The Real Estate Development Fund launched an online service on August 3, 2024, allowing beneficiaries of the “Self-Build“ and ”Land and Loan” programs—who have exceeded the standard 36-month period and have not completed the construction of their homes—to submit a request for an extension of the deadline so they can receive their financing installments, following a directive issued by His Excellency Majid Al-Hogail, Minister of Municipalities and Housing and Chairman of the Board of Directors of the Real Estate Development Fund, to grant an additional grace period of up to 16 months to beneficiaries of the "Self-Build" program, as well as "Land and Loan" beneficiaries who have exceeded the statutory period and have not completed the construction phases of their homes.

The Real Estate Fund clarified that the additional grace period for disbursing financing installments is up to 16 months for beneficiaries of the Self-Build Program and the Land and Loan Program. This additional grace period aims to enable beneficiaries to cover the costs of building their homes, and to give them additional time to correct and complete the construction phases in accordance with the required engineering and technical specifications to achieve the housing program’s objectives.

He stated that the beneficiaries of this service are participants in the Self-Build Program and the Land and Loan Program who have exceeded the standard 36-month period and have not completed the construction phases of their homes, noting that the application period, begins on August 4 and ends on November 2.

Additional Information

• Beneficiaries must submit a request for the disbursement of financing installments through the online portal.
• Beneficiaries must ensure that their construction progress is up to date before applying for an extension to receive financing installments.
• After receiving a confirmation message that the application has been received, beneficiaries should contact the financing entity to receive their installments.
• Housing support will resume after the application is approved and the first funding installment is disbursed by the approved financing agencies.
• Housing support will be provided retroactively after the housing unit is completed and ready for occupancy.
• The beneficiary is required to continuously update the construction progress during the extended deadline for disbursement of funding installments to ensure the continuation of housing support.
• The beneficiary is not entitled to claim disbursements or housing support after the application deadline has passed.