Saudi Real Estate Fund and NCB to provide financing services across the Kingdom

It is the fourth such agreement signed by the fund with financing agencies as it aims to accelerate the pace of residential ownership of families across Saudi Arabia

  
Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

Image used for illustrative purpose. A Saudi man walks outside the Saudi National Commercial Bank (NCB), after a coronavirus outbreak, in Riyadh, Saudi Arabia, March 18, 2020.

REUTERS/Ahmed Yosri
 
RIYADH: The Real Estate Development Fund (REDF) has struck a deal with the National Commercial Bank (NCB), to provide financing and housing services to the beneficiaries of the “Sakani” program, SPA reported.


It is the fourth such agreement signed by the fund with financing agencies as it aims to accelerate the pace of residential ownership of families across the Kingdom.

“We look forward to the presence of all our partners from financing agencies in all the fund’s branches during the coming period to provide financing and housing solutions closely to Saudi families within the subsidized loan program,” said the general supervisor of the REDF, Mansour Bin Madi.

The Sakani housing program aims to raise Saudi home ownership to 70 percent by 2030.

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