<Majid bin Abdullah Al-Hogail, Minister of Housing and Chairman of the Board of Directors of the Real Estate Development Fund (REDF), announced that the Cabinet has approved the transformation of the Real Estate Development Fund into a financial institution capable of providing financial instruments, offering effective solutions and innovative programs in real estate financing and expanding the partnership with the private sector. Al-Hgeel stressed that this decision comes as an extension of the great support that the Fund has received from our wise leadership since its establishment until now, pointing out that the transformation will contribute significantly to enhancing the role of the Fund in supporting the march of construction and development in our dear Kingdom.

<The Minister congratulated the employees of the Real Estate Fund on the occasion of Eid Al-Adha, noting that it coincided with the 85th National Day of the Kingdom of Saudi Arabia, He said that this day holds a dear memory in the hearts of all citizens. On this day, the Falcon of the Island, His Majesty King Abdulaziz bin Abdulrahman, may God rest his soul, united the Kingdom and built it on a strong foundation based on the Book of God and the Sunnah of His Prophet and united the ranks of the people after the dispersion to build the Kingdom on a strong and solid foundation that made our country live in development, progress and prosperity until it became beacons of development, construction, progress and civilization and led the process after him his righteous sons who followed in his footsteps to continue this march of good, giving and growth for this great nation until our country became an advanced country at all levels.

<The Minister of Housing emphasized the meanings of loyalty, belonging and loyalty that are embodied today by every citizen towards this dear country and its wise leadership represented by the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, His Royal Highness the Crown Prince, Deputy Prime Minister and Minister of Interior, His Royal Highness Prince Mohammed bin Nayef bin Abdulaziz, and the Deputy Crown Prince, Second Deputy Prime Minister and Minister of Defense, His Royal Highness Prince Mohammed bin Salman, may God protect them and maintain their health and well-being, and keep our country and its people safe and secure, stressing the government keenness to support the sustainable housing development process to address the housing sector.