RIYADH — The Real Estate Development Fund (REDF) has announced the deposit of SR 868 million in the accounts of Sakani beneficiaries from the Ministry of Municipal and Rural Affairs and Housing and the REDF for August 2022.

Real Estate Development Fund CEO Mansour bin Madi explained that the total support for the month amounted to SR868 million, which is allocated to support subsidized real estate financing contracts.

Bin Madi said the total amount that has been deposited in Sakani beneficiaries’ accounts since the announcement of the Transformation Program in June 2017 until August 2022 amounted to about SR40 billion.

Bin Madi added that the diversification of housing support programs confirms the fund's keenness to keep pace with the objectives of the Housing Program, one of the programs of the Kingdom's Vision 2030, aiming at increasing the ratio of Saudi families owning houses to 70 percent and providing housing and financing solutions by developing and improving the legislative and regulatory environment for the housing sector in order to enable beneficiaries to own and benefit from suitable houses based on their personal needs and financial capabilities. — SPA