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A head of the Real Estate Development Fund confirmed that the recovery rate of the fund's receivables from defaulting beneficiaries has increased from 6% to 11% per year.
The fund's customer service manager, Abdul Rahim Al-Omari, said the fund had worked out Thursday a plan to end the waiting lists within three years. He pointed out at the workshop "Housing System" organized by the Al Khobar Real Estate Institute that the fund could finance 860,000 citizens, Help reduce waiting queues .
He added that according to the "economic", participants in the financing of housing loans rose to 16 parties in 2018, stressing that the Fund was working to support Saudi women and help them to own housing, the creation of A board of directors allowing women to replace the original borrower and owning a home. On her behalf, without having to be a dependent of her family or married.
In turn, Housing Ministry spokesman Saif al-Suwailem said the main challenge of the ministry's projects was the infrastructure and that the ministry was allocating the royalties for the white lands, which are the main ones. Raised up to 450 million riyals to finance the construction of infrastructure for residential projects, as the ministry is keen to deliver the site in an integrated manner and to identify the locations of the structures. L & # 39; infrastructure.
In a related context, the director of project management at the General Authority of Real Estate, Sami Al-Zakri, said the Authority was working on the development of real estate indicators in five major cities, Riyadh, Dammam, Jeddah, Mecca and Madinah. Will be launched soon, revealing that the Authority is working in cooperation with the General Authority for Investment to launch the project of foreign ownership property system.
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