The home mortgages program recently revealed as part of a royal decree is designed for military personnel that are currently registered on the housing ministry’s waiting list of applicants, said Khalid Al-Amoudi, supervisor at the Real Estate Development Fund (REDF).

 

All further details concerning this initiative, which comes into effect in Q1 2018, will be announced within the next two weeks, Al-Amoudi said.

 

Last week, REDF launched the 11th batch of home loans project, Sakani, with more than 30,000 housing and financing products across the Kingdom.

 

King Salman approved last week the allocation of a SAR 72 billion stimulus package for the private sector. The plan includes a subsidized housing loans initiative worth SAR 21.32 billion, Argaam earlier reported.

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