Real Estate Development Fund and Riyad Bank sign finance deal

This is the first agreement signed by the REDF within the framework of the Tatweer Program, to support the real estate sector

  
Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

Image used for illustrative purpose. Magnifying glass and banknote Saudi Arabia.

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RIYADH: The Real Estate Development Fund (REDF), signed a framework agreement with Riyad Bank on Tuesday, to enable companies in the sector to get support and financing.

This is the first agreement signed by the REDF within the framework of the Tatweer Program, to support the real estate sector, SPA reported.

The agreement is also the first to facilitate the entry of a new segment of the sector's facilities that have not previously dealt with financing agencies.

The Tatweer Program aims at allowing real estate developers to develop Saudi housing projects with suitable prices to meet Sakani beneficiaries' needs.

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