The Real Estate Development Fund in Saudi Arabia deposited 593 million riyals in bank accounts for more than 68,000 citizens who benefited from the mortgage loan program.
This represents the value of the support allocated to them for the month of February 2019 for real estate loans, and for the military initiative beneficiaries.
Last February, 8884 mortgage-backed mortgage contracts were signed, including contracts for 4,279 families who owned direct housing after completing the purchase of a prefabricated unit from the market.
The self-build product came second with 2501 self-constructing nodes.
Due to the high real estate prices in the Kingdom, the issue of borrowing has become a necessity for owning a home, but the journey to find the best real estate loans is not simple.
Real estate financing is the borrowing of a sum of money from financial institutions such as banks, companies, and others with the aim of buying or building a house, provided that the loan is paid at agreed times with specific interest that varies according to the salary.
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