Growth in Financing Contracts for Housing Support Programs

The financing contracts for housing support programs by the Real Estate Development Fund grew by 20% during 2024. The CEO of the Real Estate Development Fund, Mansour bin Madi, explained that the various housing support programs enabled 89,000 beneficiaries to sign their financing contracts in 2024, with a total value of SAR 62.9 billion compared to approximately 74,000 beneficiaries in 2023.

He stated that diversifying financing solutions, which now exceed 11 financing solutions, contributed to the increase in the number of beneficiaries of housing support programs during 2024.

The Fund launched several financing solutions in 2024, including "Your Support Equals Your Installment," the lowest financing profit margin, and the Empowerment Program, bringing the total number of solutions offered by the Fund to 11.

The Fund provided its services through products such as under-construction housing units, ready housing units, and self-construction.

In 2024, the Fund supported the construction of 4,000 housing units with 44 real estate developers.