The Saudi Housing Ministry announced 218,840 housing and finance products during the fourth installment

Media In  / Riyadh 15 April
The Saudi Ministry of Housing and Real Estate Development Fund announced the fourth installment of the “Residential” program for the year 2018, with a total of 21,840 housing and finance products, distributed throughout the Kingdom, within the target of the program during the current year, amounting to 300 thousand products, bringing the total allocated during the months The first four 83562 residential and financial products.
During the press conference held today at the headquarters of the media center in Saudi Arabia, the ministry explained the details of the products and their geographical distribution, noting that this batch includes the allocation of 7,686 residential units under construction (the sale on the map), in partnership with developers, Makkah 1020, Qassim 2148, Jazan 4170, 160 units in Riyadh and 188 in the Eastern Province. The 5854 lands are distributed over nine areas including 1845 land in Makkah, 1484 in Najran, 1015 in Asir, 590 in Jazan, 396 in Al Jawf, 224 in the Eastern Region, 125 in Riyadh, 95 in Al Baha, and 80 in Al-Qassim area.
The installment includes 8300 real estate loans from the Real Estate Development Fund in partnership with banks and financial institutions distributed throughout the Kingdom, including 2189 in Riyadh, Makkah 1346, Madinah 706, Qassim 724, Eastern Province 1014, Asir 610, Tabuk B 299, Hail B 308, Northern Frontier B 234, Jazan B 169, Najran B 311, Al Baha B 162, Jouf B 228.
The CEO of the National Housing Company, Eng. Mohammed Bin Saleh Al-Bati, explained that this payment covers all areas of the Kingdom and offers many options to the beneficiaries in order to meet the wishes of the applicants to the housing support program, pointing out that the ministry aims to speed up citizens’ access to appropriate housing support.
He stressed that the current period is witnessing the continuation of the ministry in the delivery of housing units in a number of areas of the Kingdom in the ready-made projects, as the citizens are handed over their units in the projects of Tarif, Thadek, Al-Mabarz, Qunfudah, and Pesh, as we aim in the coming period to continue to hand over all projects that “The residential program continues to offer a variety of options to the beneficiaries through the launch of booking exhibitions for a number of housing projects under construction, where at least monthly launch of at least 5 exhibitions of these units, which are distributed in different areas The kingdom.
For his part, the General Supervisor of the Real Estate Development Fund Khalid bin Mohammed Al-Amoudi stressed the Fund’s keenness to provide all facilities to the beneficiaries and provide suitable financing solutions for all those in the waiting lists with the Fund, noting that the last period witnessed the announcement of the product of self-construction and support for beneficiaries with funding A real estate, by converting it to support.
Al-Amoudi pointed out during the conference to assess some of the challenges in the financing of retirees during the last period, and the employees of the private sector. Accordingly, appropriate financing solutions were adopted for them to find new solutions in partnership with banks and finance companies to obtain the mortgage loan program by accepting financing from non-corporate entities In addition to the launch of the “flexible installment” by changing the monthly installment according to the income of the beneficiary so that the deduction rate does not exceed 65% of the monthly income after retirement or in the case of a personal loan for In addition, the down payment has been reduced from 10% to 5% for the first housing to reduce the burden of the advance payment required by the financing parties. He stressed that these services and previous initiatives aimed at facilitating the beneficiaries of the services of the Real Estate Development Fund .