Depositing 775 million riyals for the “sakani” program beneficiaries.


The Real Estate Development Fund announced yesterday that more than 775 million riyals have been deposited in the accounts of “sakani” beneficiaries from the Ministry of Municipal and Rural Affairs and Housing and the “Real Estate Fund” for the month of October 2021. The CEO of the Real Estate Development Fund, Mansour bin Madi, explained that the total support for this month was allocated to the profits of subsidized real estate financing contracts, pointing out that the total amount deposited in the accounts of “sakani” beneficiaries since the announcement of the transformation program in June 2017 until this October exceeded 31.7 billion riyals.

Ibn Madi indicated that the distinguished successes of the subsidized mortgage loan program in partnership with the financing agencies of banks and financing institutions contributed to enabling more than 560,000 beneficiaries to obtain adequate housing since the beginning of the transformation until the end of the third quarter of the current year 2021, and stated that setting a date (24) of each Gregorian month is a date for depositing the monthly support, which comes in the interest of the fund to enable the beneficiaries to benefit from the support before depositing the monthly salary, explaining that the decision to adopt the unification of the date of the support aims to simplify, facilitate and enable Saudi families to own adequate housing.

It is noteworthy that the Real Estate Development Fund provides “subsidized real estate loan” services through more than 43 electronic services through the fund’s electronic portal www.redf.gov.sa.

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