Today, Tuesday, the Saudi Real Estate Development Fund announced the deposit of more than 842 million riyals in the accounts of “sakani” beneficiaries from the Ministry of Municipal and Rural Affairs and Housing and the “Real Estate Fund” for the month of May 2022, according to the Saudi Press Agency “SPA”.
The CEO of the fund, Mansour bin Madi, said that the total support for the month of May amounted to 842 million riyals, allocated to support the profits of subsidized real estate financing contracts, explaining that the total that has been deposited in the accounts of “sakani” beneficiaries since the announcement of the transformation program in June 2017 until May 2022, Exceeded 37.6 billion riyals.
Bin Madi affirmed the fund’s keenness to maintain the support and deposit it to the beneficiaries of the subsidized mortgage loan program on the specified monthly date.
He added that this is an affirmation and culmination of joint efforts and partnership with the housing system and financing agencies, with the aim of increasing the percentage of ownership to 70% by 2030, in accordance with the objectives of the Housing Program – one of the programs of the Kingdom’s Vision 2030 – and providing housing and financing solutions in a sustainable manner through building systems and supporting legislation.
It is noteworthy that the Real Estate Development Fund provides “subsidized mortgage” services through more than 43 electronic services through the fund’s electronic portal, in addition to the real estate advisor service, and self-service machines in the fund’s branches around the clock.
The unified call center (199088) and social media channels respond to beneficiaries’ inquiries and questions about the “subsidized loan”.
