Saudi Arabia's Real Estate Development Fund (REDF) has shortened the waiting list of mortgage loans by almost half (48 percent) in the last two years through Sakani housing program, said Khalid Mohammed Al Amoudi, general director of REDF.​

 

During this year, the REDF arranged 100,000 loans in partnership with commercial banks and financing institutions.

 

A total of 53,000 families made use of the three options of the subsidized financing program; financing the purchase of the ready-to-occupy units, off-plan units, the construction of one’s unit, and the mortgage housing loans.  

 

Earlier this year, the REDF said it was planning to finalize loans to over 500,000 applicants on the waiting list by 2020, according to earlier news reports.

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