Arab News, Monday, Jul 26, 2021 | Zul Hijjah 16, 1442
$196 million injected into Saudi home loans fund
Saudi Arabia:
The Real
Estate Development Fund (REDF) has deposited SR734 million ($196 million) into
the accounts of people benefiting from the Sakani program for July.
Sakani is run by the Ministry of Municipal, Rural Affairs and Housing and the
REDF, offering Saudis access to land and residential housing through financing
solutions with the aim of enabling families to own their first home.
The Kingdom’s Vision 2030 reform plan aims to raise the proportion of
residential ownership to 70 percent.
Mansour bin Madi, the REDF’s general supervisor, said that the total amount
deposited in accounts since the program’s launch in June 2017 exceeded SR29.6
billion.
REDF provided more than 43 electronic services for citizens online without the
need to visit branches, in addition to a real-estate adviser application that
facilitates the procedure.
It has also deployed an online team working around the clock to provide support
to help beneficiaries get access to the subsidized funding. Beneficiaries can
call 199088 or contact REDF on social media for any questions.