"Real Estate" will deposit 590 million riyals to beneficiaries of the subsidized loan

In March, we will continue to file every month

The Real Estate Development Fund announced the deposit of 590 million riyals on the accounts of the beneficiaries of the "Residential" program of the Ministry of Housing and Real Estate Development Fund in March 2019, of which
90 million riyals to support the profits of mortgage loan agreements and a half billion riyals to beneficiaries of the initiative of support to the army.

The total amount deposited in the accounts of beneficiaries of "subsidized mortgage financing" and "subsidized housing loan for the military" amounted to 2 billion and 713 million riyals, from the beginning of the transition to 2019, announced the fund in a press release today.

He pointed out that the total amount deposited in the accounts of the beneficiaries of the "mortgage loan" since the beginning of the mortgage program from June 2017 to March 2019 amounted to about 527 million riyals, while the total deposited on the accounts of beneficiaries of "military service financed by a mortgage loan" was about two billion. An amount of 185 million RS is provided as a good loan to repay once the principal loan has been repaid.
According to the Real Estate Development Fund (REDF), the amount of aid deposited in beneficiary accounts confirms the Fund's commitment to support recipients of subsidized mortgage loans, highlighting the need to pursue beneficiaries in their steps to become owner of the first house. The amount is reached before deducting the payment of his bank account.

For his part, the General Supervisor of the Real Estate Development Fund, Khalid bin Mohammed Al-Amoudi, said the Fund would continue to deposit the support amounts on the beneficiaries' accounts on a monthly basis in accordance with the contracts signed with them, pointing out that the Real Estate Development Fund would continue to provide services to all registered beneficiaries on their lists, Get their home loans and complete waiting lists by the end of next year, in accordance with the guidelines of the wise leadership, in view to provide all means allowing citizens to own the first housing and promote housing program objectives aimed at increasing the proportion of Tinnitus homeowners to 60% by 2020 and reach 70% in 2030.

Al Amoudi pointed out that Real Estate Development Fund agencies continue to serve citizens throughout the week and that they can contact the real estate consultant to give him advice.
And to provide the necessary support to the beneficiaries to determine the mechanism for obtaining mortgage financing and the monthly support provided to the beneficiary, the recipient's care center was allocated 199090 to communicate with the beneficiaries and answer their questions.

It should be noted that the real estate development fund announced in the previous installments of the "residential" program provided for the granting of more than 285,000 mortgages granted to beneficiaries registered on the lists of the fund,
A number of initiatives have been launched over the last two years to "accelerate mortgage debt" without delay, and to design several solutions in partnership with banks and financial institutions, including the purchase of a market unit. ready made, prefabricated or under construction in partnership with qualified real estate developers