REDF says its financial products well-diversified

State-subsidized financial products of Saudi Arabia's Real Estate Development Fund (REDF) are diversified enough to fulfill the needs of all beneficiaries, the fund said in a statement carried by the Saudi Press Agency Monday.

The products cover four categories, mainly purchase of existing properties and homes through financiers as well as off-plan residential units that will be completed in three years maximum.

The subsidized scheme also allows beneficiaries to finance their own property through pledging a plot of land to obtain mortgage loans in installments.

Properties also can be pledged by property owners to secure lump sum loans at a certain percentage of the building value, the statement added.