REDF enables 73,000 Saudi women to own their own houses

Beneficiaries of real estate loans provided by the Real Estate Development Fund reached more than 73,000 Saudi women in the Kingdom until the end of last October of this year 2020, as part of the fund’s efforts to enable women to own their first home.

 General Supervisor of the Real Estate Development Fund, Mansour bin Madi, explained that enabling Saudi women to own a house falls within  policy adopted by the Real Estate Development Fund since its inception.

 Women constitute up to half of the community and the main pillar propping the development and construction of their own communities, he added. 

 REDF worked to facilitate and simplify financing procedures to enable all citizens to obtain subsidized real estate loans using electronic and prompt procedures, he noted. 

He pointed out that the total number of beneficiaries of real estate loans, programs and initiatives exceeded 73,800 Saudi women across the Kingdom until the end of last October. 

He noted that the current programs allow women to own property under  Subsidized Mortgage Program with the aim of  achieving the objectives of the housing program, included among the  Kingdom’s 2030 Vision.

The program’s objectives include raising the percentage of citizens’ ownership of housing to 60% by the end of 2020 and 70% by the end of 2030.

Enabling Saudi women to have housing and making them benefit from the available programs  is in the interest of the homeland and achieves the goals of the Kingdom’s ambitious vision,according to the General Supervisor of the Real Estate Development Fund.

‘The subsidized mortgage program enables women to own housing units, given  various initiatives and programs  designed to help  beneficiaries and those enrolled in the Ministry of Housing’s  “sakani” program to pick the best housing units. 

It is noteworthy that the Real Estate Development Fund continues to provide electronically subsidized real estate loan program services through the following link: www.redf.gov.sa and allows the beneficiary to complete the procedures for obtaining a real estate loan through more than 30 electronic services available online, and to benefit from the real estate advisor service via an  application installed on smart devices easily.