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The Minister of Housing, Chairman of the Board of Directors of the Real Estate Development Fund, Majed Al-Hogail, expressed his thanks and gratitude to the custodian of the two holy mosques, King Salman bin Abdulaziz Al Saud and Crown Prince Muhammad bin Salman , on the occasion of the approval by the Cabinet of the new real estate development fund project.
Al-Hogail confirmed that the system, consisting of 18 articles, will replace the system published by Royal Decree No. (M / 23) of 6/11/1394 AH, and that it gives the fund independence and flexibility. in the partnership by providing financing and housing solutions, as this is a major tool for Saudi families to easily own housing. And the ease.
He added that the new system will play a role in building housing projects in partnership with government sectors such as the secretariats and urban development agencies in various parts of the Kingdom, noting that the system will also provide strong support for residents. pillars of development and a new phase in the areas of housing assistance.
The Minister of Housing said the generous approval of the new real estate development fund system project is an embodiment of the continued interest that the custodian government of the Two Holy Mosques attaches to the housing and real estate finance sectors. , in a way that ensures the sustainability of the financing process and allows Saudi families to own homes.
He stressed that the generous support of the management positively reflects the work and development plans of the sector, in accordance with the qualitative change that the Kingdom is going through in various fields, in accordance with its ambitious vision of a bright and prosperous future of development and prosperity.
He explained that the new real estate fund system aims to strengthen and expand the role of the fund in the field of urban development to the extent of the next step. It also represented a qualitative step towards strengthening partnerships with government agencies and the private sector of financial institutions and real estate development companies in order to achieve inclusiveness and diversity in the provision of products and financing solutions and of housing. What suits all segments of society.
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