The Real Estate Development Fund is one of the most important specialized government development funds and the highest in terms of the value of the loans provided, as it contributed 255 billion riyals, which constitutes 43% of the total provided by these funds, which amounted to about 587 billion riyals since their establishment until the end of the last fiscal year, according to the budget data issued by the Ministry of Finance.

Repaid Loans

The value of loan repayments collected by the Real Estate Development Fund until the last fiscal year 35-1436H amounted to about 99 billion and 489 million riyals of the total outstanding loans of 124 billion and 370 million riyals, an increase of 80%, which is an indication of high repayment in all forms of loans provided by private housing and real estate investment.

Repayments.

The value of loans is 255 billion riyals

<The Fund's financial report for the fiscal year 35-1436 AH stated that loans amounted to about 255 billion riyals since the establishment of the Fund, and investment loans recorded the highest collection rate, reaching 97%, The Fund was supported by a capital of more than 72 billion riyals, which enabled the Fund during the years of the ninth development plan, which will end this year, to increase the number of approved loans by 306% more than planned, during which it approved the lending of more than 284 thousand citizens at the rate of 57 thousand citizens annually with the value of their loans 131 billion and 398 million riyals, which contributed to the construction of 337 thousand and 168 housing units.

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Approved applications

The number of approved applications since the beginning of lending until the end of the last fiscal year amounted to 947 thousand and 274 applications with an estimated value of 331 billion and 171 million riyals, and the total loans provided by the Fund since its inception until the end of the fiscal year under report amounted to 793 thousand and 762 loans worth 255 billion riyals.

The number of approved applications since the beginning of lending until the end of the last fiscal year amounted to 947 thousand and 274 applications with an estimated value of 331 billion and 171 million riyals.

Ninth Development Plan

The Fund's objectives during the plan were to finance the construction of 108,000 housing units by providing 90,000 loans in various regions of the Kingdom at a rate of 18,000 loans per year, and the percentage of private loans provided during the ninth development plan accounted for 37% of the total private loans provided by the Fund since its establishment.

Exempted from repayment

With regard to those who were exempted from repayment from the beneficiaries of the Real Estate Fund loans, the number of those who were exempted for death from the beginning of the exemption until the end of the fiscal year under report amounted to 69 thousand and 204 borrowers, and the number of those exempted in the reporting year exceeded 3800 citizens, the value of their loans amounted to 808 million riyals, and the number of those exempted from paying two installments reached 422 thousand and 34 citizens and the Ministry of Finance compensated the Fund during the year with 100 million riyals, bringing the total amount of compensation received until the end of the fiscal year of the report to exceed eight billion.

Funded contracts

The number of contracts financed through the guarantor program for villas/apartments reached 4556 contracts with a total value of (2,243) million riyals, the number of loans financed to own ready-made housing units for villas/apartments during the current fiscal year reached (6,919) loans with a total value of (3,444) million riyals, the number of contracts that benefited from the additional financing program reached 767 contracts with a total value of 368 million riyals, and the mortgage on the property of 12,253 borrowers was released during the year.

Investment Loans

The value of investment loans amounted to 4 billion and 669 million riyals, of which 22 million riyals were repaid during the last fiscal year, bringing the repayment rate from the beginning of lending until the end of the year under review to 97%, and private loans signed by the end of the same year amounted to 37 thousand and 961 contracts worth 18 billion and 910 million riyals that contributed to the construction of more than 45 thousand housing units in various regions of the Kingdom.

The value of investment loans amounted to 4 billion and 669 million riyals, of which 22 million riyals were repaid during the last fiscal year.

Last year's applications

As for the number of applications during the past year, the report showed that the Fund approved 44,787 applications with a total of 22 billion and 374 million riyals, while the total loans provided by the Fund and the contracts signed during the same period amounted to 37,961 loans worth 18 billion and 910 million riyals, which contributed to the construction of 45,553 housing units.

The report showed that the Fund approved 44,787 applications with a total of 22 billion and 374 million riyals, as well as 37,961 loans signed during the same period.