The Real Estate Development Fund pavilion at the Riyadh Exhibition for Real Estate, Housing, and Urban Development “Restatex” introduces, through interactive technology, the financing and housing solutions and the support programs for the subsidized real estate loan program according to immediate entitlement to the “sakina” beneficiaries, which provides a good loan of up to 500 thousand riyals, supported by profits at a rate of up to to 100% and within easy and convenient electronic procedures.
Participation in the exhibition, which will be held from the 1st to the 4th of March, is aimed at real estate development institutions and companies, to introduce the role of the “Tatweer” program in supporting real estate development institutions and companies.
The CEO of the Real Estate Development Fund, Mansour bin Madi, explained that participation is an opportunity to communicate with the beneficiaries of the fund’s various programs and enablers, stressing the fund’s keenness to enhance its pioneering role in enabling families to own adequate housing and achieve balanced urban development in the Kingdom.
Bin Madi stated that the fund contributes to promoting balanced urban development and supporting the real estate supply by providing financing and housing options for the “subsidized loan,” pointing out that more than 600,000 beneficiaries benefited from the ready-made housing unit product, the self-construction product, and the under-construction housing unit product during the period. From June 2017 until the end of 2021.
And he indicated that the “development” program contributes to supporting real estate development companies to obtain the necessary financing to enable them to increase the supply in the real estate market and enhance their role in achieving the goals of the Kingdom’s Vision 2030, praising the complementary partnership between the housing system and the private sector from all sides. Finance and real estate developers to enhance the balance between supply and demand in the real estate market and to provide housing products with high quality and competitive prices in various regions of the Kingdom.
It is noteworthy that the subsidized real estate loan program provides a number of various financing and housing options, including self-construction and the purchase of ready or under construction housing units through 43 electronic services in addition to the real estate advisor service. With high quality and competitive prices that meet the needs and desires of beneficiaries in various regions of the Kingdom.