Real Estate Development Fund announced today that it has deposited 1.05 billion riyals into the accounts of beneficiaries of the Ministry of Municipalities and Housing and the Real Estate Fund’s housing program for the month of September 2024.

Mansour bin Madi, CEO of the Real Estate Fund, explained that the total subsidy for the current month of September was allocated to support the profits from various Housing Support programs, with the aim of improving beneficiaries“ ability to own homes and achieving the housing program’s objectives.

Bin Madi said: ”The Housing Support Program offers a number of financing solutions and benefits to beneficiaries of the “self-build” product, with the aim of enabling them to complete the construction of their homes in a way that meets their needs and preferences,“ noting that among the financing solutions for the ”self-build“ product is the down payment support package, which allows beneficiaries to receive immediate, non-repayable support of up to 150,000 riyals.

The CEO of the Real Estate Fund stated that the ”Your Support Equals Your Installment“ financing solution is considered one of the competitive financing options, as beneficiaries ”Self-Build” program to own a home with a monthly installment equal to the monthly housing subsidy, in addition to other benefits, including a financing down payment of up to 25% of the total real estate financing.

It is worth noting that the Real Estate Development Fund provides housing support program services electronically through the Fund’s online portal, and has also launched the “Real Estate Advisor” service to enable beneficiaries to customize their housing support and receive the best financing and housing recommendations, while the unified call center at 199088 and social media channels respond to beneficiaries’ inquiries and questions.