Over 73,000 Saudi women beneficiaries of REDF loans to own a home

Over 73,000 Saudi women beneficiaries of REDF loans to own a home

The number of Saudi women beneficiaries of real estate loans to own a home, provided by the Real Estate Development Fund (REDF); reached more than 73,000 until the end of last October.

This was part of the Fund’s efforts to continue empowering Saudi women to own their first home; according to Mansour Bin Madi, general supervisor of REDF.

He said, empowering Saudi women to own a home comes within the policy of REDF since its inception; as women are half of the society. Besides, being the main pillar to advance the development and construction wheel in the society.

“The Fund worked to facilitate and simplify real estate financing procedures. This is to empower all citizens obtaining subsidized real estate loans through electronic and instant procedures,” he also said.

According to Madi, the total number of Saudi women beneficiaries of real estate loans; programs; and initiatives exceeded 73,800 throughout the Kingdom until the end of October.

“The current programs allow women to own property according to the conditions of the subsidized mortgage program. This is to benefit from its advantages, in order to achieve the objectives of the housing program; one of the programs of the Vision 2030; which includes raising the percentage of citizens’ ownership of housing to 60 percent by the end of 2020; and 70 percent by the end of 2030,” he said.

Madi indicated that empowering Saudi women to have housing and making them benefit from the available programs serves the interest of the nation and achieves the goals of the Kingdom’s ambitious Vision.

“The subsidized mortgage enables women to own housing units within various initiatives and programs to facilitate the choice of the beneficiary citizens registered with the Sakani program of the Ministry of Housing and REDF,” he also added.