REF Deposits SAR 965m for Feb Housing Beneficiaries
The Saudi Real Estate Development Fund (REF) has made a significant move. It deposited over SAR 965 million for the “Sakani” program beneficiaries. This move falls under the auspices of the Ministry of Municipal, Rural Affairs, and Housing for February 2024. Furthermore, this substantial deposit marks a milestone in the Saudi government’s efforts. It’s aimed at improving housing affordability and accessibility. The ultimate goal is to increase citizen homeownership to 70% by 2030.
CEO’s Insights
Mansour bin Madi, the CEO of the Fund, offered further insights. He explained the February support is specifically for enhancing the profitability of various housing programs. Since the Transformation Program’s launch in June 2017, the Fund has deposited approximately SAR 56.6 billion. This substantial sum demonstrates the government’s commitment to housing. It is also a testament to the scale of investment in the “Sakani” program beneficiaries.
Commitment to Housing Affordability
The Saudi Real Estate Fund’s CEO emphasized their unwavering commitment to housing affordability. This initiative is key to ensuring more citizens can own homes. The housing also support program is designed to be continuous. It enables beneficiaries to select housing products that align with their needs and financial abilities. This approach ensures a more tailored and sustainable housing solution for each beneficiary.
Objectives of the Housing Support Program
The primary aim of the housing support program is to enhance housing efficiency. This program caters to the “Sakani” beneficiaries. It incorporates a range of financial and housing solutions. Moreover, these are designed to increase the likelihood of suitable homeownership for citizens. The program’s diverse offerings make it easier for beneficiaries to find housing that suits their specific needs.
Digital and Advisory Services
The Saudi Real Estate Fund provides more than 43 digital services through its online portal. These services streamline the application and support process. The “Design Your Support” service on the Real Estate Advisor platform is a notable offering. It assists beneficiaries in customizing their housing support. They receive tailored financial and housing recommendations. The Fund also operates a unified call center and active social media channels. This digital approach reflects the Fund’s commitment to accessibility and modern service delivery.
In conclusion, the Saudi Real Estate Development Fund’s latest deposit is a significant step. It demonstrates the government’s dedication to improving housing affordability and accessibility. This initiative is critical for achieving the ambitious goals set out in Vision 2030.
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