Saudi real estate fund deposits over $278mln in Sakani accounts

Fund committed to continue the procedures that ensure the interests of citizens while working virtually

  
Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

Image used for illustrative purpose. Elevated view of modern city center, Riyadh, Saudi Arabia

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Saudi Arabia's Real Estate Development Fund has deposited SR1.048 billion ($278 million) into the accounts of its Sakani Programme (My Housing) beneficiaries for April, in co-ordination with the Ministry of Housing and the Real Estate Development Fund, after setting the support date earlier for the second month in a row.
 
General Supervisor of Real Estate Development Fund Mansour bin Madi said that SR425 million was allocated in support of the profits of the subsidised real estate contracts, while SR530 million were provided to the beneficiaries of the Military Support Initiative who are in service in all military sectors, and Rs93 million for the
Civilian Support Initiative beneficiaries.
 
The total amounts deposited by the fund in the accounts of Sakani beneficiaries since the announcement of the subsidized real estate loan in 2017 till date amounted to about SR19.111 billion, stated Bin Madi.
 
He pointed out that the Fund was committed to continue the procedures that ensure the interests of citizens while working virtually.
 
In this regard, it has set a date earlier for depositing housing support for citizens who benefit from real estate financing programmes for the second time in a row during the suspension of work in government offices due to Covid-19 pandemic, he added.-TradeArabia News Service

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