Over 322,000 beneficiaries receive SAR 196 bln fixed-rate mortgages

08/02/2022 Argaam

Logo of The Saudi Real Estate Development Fund

The Saudi Real Estate Development Fund (REDF) announced that more than 322,000 beneficiaries received SAR 196 billion worth of long-term, fixed-rate mortgages during the period from 2020 until end of 2021, Saudi Press Agency (SPA) reported.

 

The long-term, fixed-rate mortgages came as one of the solutions of the subsidized housing loan program to raise the rate of home ownership to 70% until 2030.

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