Citizens have called on the Real Estate Fund to extend the loan term. This comes after the Fund recently announced the cancellation of the open-ended time limit for those who had already received approval, setting the time limit at just one year from the date of the approval decision instead of the open-ended time limit that had been in effect in previous years. However, this decision has left many who had previously received approval in a state of confusion, especially those who do not own land on which to build or who lack the financial means to take advantage of the loan, as the Real Estate Development Fund took this step after the additional loan was approved in cooperation with the banks that signed that agreement. However, most of the citizens complaining about the cancellation of the time limit are in regions and governorates not covered by the additional loan decision, which has caused them confusion. This decision may lead many of them to decline the loan and remain tenants or for some to sell the loan after finding themselves unable to proceed, demanding that officials at the Real Estate Development Fund reconsider this decision, so that it is implemented gradually in the regions and governorates covered by the additional loan, ensuring they have no excuse for not taking advantage of the loan when the option of the additional loan is available to them\u2014unlike the current situation, since most regions and provinces are not covered by the additional loan, a situation that has caused confusion among many who have received approval but do not currently own land or have the financial means to build homes for themselves. Faisal Al-Saad, a citizen who received approval three years ago, says, \u201cI do not own any land, so I cannot draw down my mortgage loan before the one-year deadline expires,\u201d adding: \u201cI also cannot afford to buy a plot of land, and since I am from the Rafha Governorate\u2014where the additional loan is still not available\u2014this has created a crisis for me, especially following the recent decision by officials at the Real Estate Development Fund.\u201d Most citizens who were previously approved also appealed for the one-year time limit to apply only to those who currently own land and have the financial capacity to build, and for them to be required to provide proof of this\u2014such as notarized documents from local banks, such as bank statements. For those who cannot provide proof of land ownership or financial capacity, the time limit should be extended until they can resolve their financial situation and then benefit from the loan. We hope that officials at the Real Estate Development Fund, led by the Minister of Housing, will reconsider this decision, taking into account the circumstances of some citizens who do not currently have the means to build.
\nAl-Jazeera Newspaper<\/p>","protected":false},"excerpt":{"rendered":"
Reading time: <\/span> 2<\/span> Minutes<\/span><\/span>Citizens have called on the Real Estate Fund to extend the time period for the loan. This comes after the Fund recently approved the cancellation of the open time limit for those who have been approved, where the time limit is limited to one year from the issuance of the approval decision for the citizen instead of the open time limit in previous years, but this decision made many ... Read more<\/a><\/p>","protected":false},"author":34,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","_seopress_robots_follow":"","_seopress_robots_imageindex":"","_seopress_robots_snippet":"","_seopress_robots_primary_cat":"0","_seopress_robots_breadcrumbs":"","_seopress_robots_freeze_modified_date":"","_seopress_robots_custom_modified_date":"","_seopress_robots_canonical":"","_seopress_social_fb_title":"","_seopress_social_fb_desc":"","_seopress_social_fb_img":"","_seopress_social_fb_img_attachment_id":0,"_seopress_social_fb_img_width":0,"_seopress_social_fb_img_height":0,"_seopress_social_twitter_title":"","_seopress_social_twitter_desc":"","_seopress_social_twitter_img":"","_seopress_social_twitter_img_attachment_id":0,"_seopress_social_twitter_img_width":0,"_seopress_social_twitter_img_height":0,"_seopress_redirections_value":"","_seopress_redirections_enabled":"","_seopress_redirections_enabled_regex":"","_seopress_redirections_logged_status":"","_seopress_redirections_param":"","_seopress_redirections_type":0,"_seopress_analysis_target_kw":"","_seopress_news_disabled":"","_seopress_video_disabled":"","_seopress_video":[],"_seopress_pro_schemas_manual":[],"_seopress_pro_rich_snippets_disable_all":"","_seopress_pro_rich_snippets_disable":[],"_seopress_pro_schemas":[],"footnotes":""},"categories":[119],"tags":[],"class_list":["post-87117","post","type-post","status-publish","format-standard","hentry","category-real-estate-finance"],"acf":{"amlak_post_excerpt":"","amlak_post_excerpt_source":{"label":"Amlak post excerpt","type":"text","formatted_value":""}},"featured_image_urls":{"full":"","thumbnail":"","medium":"","medium_large":"","large":"","1536x1536":"","2048x2048":"","trp-custom-language-flag":"","event-thumbnail":"","event-medium":"","event-large":"","event-hero":""},"author_info":{"info":["\u0627\u0645\u0644\u0627\u0643 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629"]},"category_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a<\/a>","tag_info":"\u062a\u0645\u0648\u064a\u0644 \u0639\u0642\u0627\u0631\u064a","comment_count":"0","_links":{"self":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/comments?post=87117"}],"version-history":[{"count":0,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/posts\/87117\/revisions"}],"wp:attachment":[{"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/media?parent=87117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/categories?post=87117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/amlak.net.sa\/en\/wp-json\/wp\/v2\/tags?post=87117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}