The Real Estate Development Fund announced today that it has signed a partnership agreement with Riyad Bank, at the fund’s headquarters in Riyadh, to provide financing and housing services to beneficiaries of the “Sakani” program within the fund’s branches around the Kingdom.
The agreement was signed by the general supervisor of the fund, Mr. Mansour bin Madi, and by "Riyad Bank", the first president of individual banking, this is the third agreement signed by the fund with the financing agencies as a continuation of joint cooperation in a way that contributes to accelerating the pace of residential ownership by families. And reaching 70% by 2030, according to the objectives of the housing program - one of the 2030 Vision programs.
The General Supervisor of the Fund, Mansour bin Madi, said that this agreement comes within the framework of close partnership with the approved financing agencies by facilitating the procedures of subsidized mortgage loans without the need for travel and research between financing agencies, confirming the pioneering role of the fund to support the urban development process, explaining that the agreement aims to provide solutions Financing and housing for Saudi families within the subsidized mortgage loan program under one roof inside the headquarters of the Fund’s branches, which reduces the effort and time to complete the “subsidized loan” procedures.
For his part, the CEO of Riyadh Bank, Mr. Tariq Al-Sadhan, expressed the bank's pride in the close and continuous partnership between Riyad Bank and the Real Estate Development Fund, stressing the importance of concerted efforts between the public and private sectors in order to achieve the interest of the homeland and the citizen and contribute to increasing the percentage of citizens' ownership of their homes in line with the Kingdom's Vision 2030 .
It is noteworthy that the Real Estate Development Fund provides "subsidized real estate loan" services through more than 43 electronic services through the electronic portal of the fund www.redf.gov.sa, in addition to the "real estate advisor" application, and the Beneficiary Care Center 199088, in addition to social media channels By responding to citizens' inquiries and questions about the subsidized mortgage program and financing solutions around the clock, while Riyad Bank and Al-Rajhi Bank, Bank Al-bilad, during the coming period will provide their services through the Fund’s branches across the Kingdom.