RIYADH: Saudi Arabia’s Real Estate Development Fund (REDF) has provided over SR33.3 billion ($9.1 billion) in support to the Sakani Program since its inception, helping more Saudis to own homes, CEO of REDF, Mansour Madi stated on Sunday.
December saw an increase in deposits to SR805 million, compared to SR788 million in November, according to a previous report by SPA.
Sakani is a program run by the Ministry of Housing and the REDF to allocate fully constructed and planned housing units across Saudi Arabia.
Madi pointed out that the fund insists on continuing to deposit the monthly funding for the beneficiaries of the Sakani program.
REDF provided more than 43 electronic services for citizens online, in addition to a real-estate adviser application that facilitates the program, he added.
More than 580,000 Saudi families benefited from the Housing Ministry’s Sakani program, which has subsidized real estate loans since its inception in June 2017.
