Real Estate Development Fund deposits $214mln in Sakani Program

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RIYADH: Saudi Arabia’s Real Estate Development Fund (REDF) has injected over SR805 million ($214.3 million) in December to the accounts of people benefiting from Sakani program,

This brings the total amount of financing to SR33.3 billion, to help more Saudis own homes, CEO of REDF, Mansour Madi stated on Sunday.

December witnessed an increased deposit compared to last month, of SR788 million to the beneficiary accounts of Saudi families, SPA reported.

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 560,000 Saudi families benefited from the Housing Ministry’s Sakani program, which has subsidized real estate loans since its inception in June 2017.

Sakani is a program run by the Ministry of Housing and the REDF to allocate fully constructed and planned housing units across Saudi Arabia.

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