The Real Estate Development Fund identified its annual need to support its resources by about 30 billion riyals annually in order to issue 60,000 loans annually for ten years, and said in its annual report for the fiscal year 35-1436, which was submitted to the Shura Council and is expected to be discussed in the middle of next week on , The report contained several proposals to address the obstacles facing it, The report included a proposal to provide specific subsidy amounts to support capital in the long term to be able to outline its lending plan, study the human and financial situation of the Fund's defaulting borrowers who are proven to be unable to repay, and correct their situation to enhance the Fund's ability to lend to those on the waiting list. To address the issue of high land prices, which in major cities exceeds 50% of the cost of housing, which affects the financial solvency of borrowers, delaying their benefit from the Fund's loan and the quality of housing.
The Real Estate Fund in its report called on public institutions, banks and the private sector to provide real estate savings programs for citizens, and called on the Fund to issue a special regulation for its employees that supports its plans to develop and attract qualified national cadres, and suggested the establishment of a unified database linking the relevant authorities to the Fund, and the Fund's report to the Shura Council indicated that the Ministry of Finance has not allocated any amounts to it since 1432 and indicated that the Ministry has an obsession with inflation, which causes the Fund to suffer and thus divides the amounts on it and not pump the full amount, and the report explained that Finance since four years ago only pays compensation for exemption and exemption.
It is worth mentioning that since its establishment until now, the Fund has issued about 900 thousand loans, built more than a million housing units and disbursed about 260 billion riyals, and the Fund has a large capital amounting to 190 billion riyals spent on good loans and does not produce any returns and receives annually at best amounts that do not exceed five billion, and has in the waiting list 430 thousand citizens.
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