REDF deposits SAR 734 mln in Sakani beneficiary accounts for July

25/07/2021 Argaam

Saudi Arabia’s Real Estate Development Fund (REDF) deposited SAR 734 million in the accounts of the beneficiaries of the “Sakani” program for July.

 

The total July subsidy was allocated to the profits of subsidized mortgage contracts, the Saudi Press Agency (SPA) reported, citing REDF’s Chief Executive Officer (CEO) Mansour bin Madi.

 

He pointed out that the total amounts deposited in the accounts of “Sakani” beneficiaries since the announcement of the transformation program in June 2017 till date exceeded SAR 29.6 billion.

 

The CEO stated that the subsidized mortgage loan program enables beneficiaries to obtain a mortgage loan with a value of up to SAR 500,000, with subsidized profits of up to 100%.

 

REDF will continue to support mortgage loans within “Sakani” every month to raise Saudi homeownership rates to 70% by the end of 2030.

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