More than a billion riyals deposited into Sakani beneficiaries’ accounts

RIYADH: The Real Estate Development Fund (REDF) has deposited SR1,048 million ($278 million) in the accounts of people benefiting from the Sakani program for April.

Sakani is a program run by the Ministry of Housing and the REDF to allocate fully constructed and to-be-built housing units and residential products across Saudi Arabia.

The general supervisor of REDF, Mansour bin Madi, said that SR425 million was deposited to support the profits of subsidized real estate contracts, SR530 million was provided to the beneficiaries of the military support initiative and SR93 million to the beneficiaries of the civilian support initiative.

Between June 2017 and April 2020 $19.111 billion has been handed over under the Sakani program.

Madi said that the REDF is committed to continuing its procedures while working virtually and he set a date earlier for paying a second instalment of housing support to people who are benefiting from real estate financing programs during the suspension of work in government offices due to the coronavirus disease (COVID-19) pandemic.

He praised decisions taken by the government of Saudi Arabia to limit the spread of the COVID-19, and its unlimited support for various social and economic fields in the service of citizens.

REDF provided more than 30 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 related to the housing and financial solutions, programs and initiatives.