I uploaded Real Estate Development Fund Today, 1.19 billion riyals deposited into the accounts of beneficiaries of the Sakani program from the Ministry of Municipalities and Housing and the Real Estate Fund for the month of November 2024.
Mansour bin Madi, CEO of the Real Estate Development Fund, explained that the total support for the current month of November was allocated to subsidize the profits of contracts under various Housing Support programs; with the aim of improving beneficiaries“ ability to own housing, in line with the objectives of the Housing Program—one of the programs of the Kingdom’s Vision 2030.

Bin Madi said: ”The financing solution with the lowest financing profit margin of up to 1.59% is available to beneficiaries of the self-build product and the residential units under construction product for a limited period in partnership with Al Rajhi Bank, encouraging beneficiaries to take advantage of these exceptional financing opportunities to own suitable housing, in addition to the benefits and solutions offered by the Housing Support Program.“

He added that among the financing solutions designed to facilitate the journey toward owning self-build homes and residential units under construction is the ”Your Support Equals Your Installment“ financing solution where, upon signing the financing contract for the product, the beneficiary can choose between a monthly installment equal to the monthly housing support amount or a monthly installment not exceeding 400 riyals until the residential unit is received, in the case of utilizing thewhich provides immediate support of up to 150,000 riyals.

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 provided the ”Real Estate Advisor” service to enable beneficiaries to design their housing support and obtain the best financing and housing recommendations.