A company for housing security services with a capital of 18 billion riyals

The Real Estate Development Fund is studying the transformation of the guarantee program into a housing guarantee services company with a capital of 18 billion riyals, in partnership with the Financial Sector Development Program and in cooperation with the Central Bank to facilitate the provision of housing solutions with innovative technologies that benefit all families, whether they work and have a fixed income or not, such as owners Small and medium enterprises, or those whose institutions and funding agencies do not have agreements that allow them to obtain the necessary financing.
During the past year 2021, the guarantees program registered more than 26,000 beneficiaries, and the program includes entering the fund as a guarantor for those who do not have fixed incomes from owners of small and medium enterprises to encourage financial institutions to provide real estate loans to them in order to support the real estate sector and facilitate ownership, and the guarantees program offers one of the solutions The financing provided by the Real Estate Development Fund to the beneficiaries of the “sakani” program, facilities and incentives that help families who are not banked to own the appropriate housing, and the guarantees program comes as an extension of the Real Estate Development Fund’s programs, which achieved achievements during the past year 2021 represented in the signing of more than 182 thousand financing contracts worth It exceeded 114 billion riyals, exceeding the target of 140,000 contracts by about 30%, bringing the total beneficiaries of the subsidized real estate loan program to more than 600,000 beneficiaries from June 2017 until 2021, in order to achieve a balanced urban development in accordance with the objectives of the Kingdom’s Vision 2030.


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