Housing appeals to landless loan applicants to update their data
Amlak-follow-ups
A source at the Ministry of Housing said that applicants for a «landless loan» should update their data through the «Iskan» portal in less than forty days, as that portal will be launched. The Ministry, the Real Estate Development Fund, the Monetary Authority and banks are seeking to reduce the interest charged on the value of the additional financing, so that the borrower can obtain a significantly reduced interest loan from banks, if the citizen wants this additional loan.

The Ministry will inject the market with projects, land and land. <The source indicated that the ministry will inject more projects and developed land than it has previously offered, creating balance in the real estate market, especially in land prices. He said: The state supports citizens to go to real estate developers to choose the neighborhood he wants in the city, through ready-made products, equipped by the private sector of residential units, which the citizen can obtain with the support provided by the state of 500 thousand riyals, indicating that the challenge for real estate developers now, according to the coordination mechanism, is that the developers provide designs for citizens real estate and residential units, not exceeding the value of the support provided to the citizen of 500 thousand riyals. He explained that the developers will be qualified, and a workshop was held with them in which all matters related to development and other matters were discussed, and the citizen has the choice; either to get the loan or the housing unit.
It is worth mentioning that the Ministry of Housing has received a number of housing projects, including villas and other projects from developers, which will be distributed to those who meet the conditions.