REF’s Contribution to Sakani Beneficiaries for October 2023
The Real Estate Fund (REF) in Saudi Arabia has recently made a substantial financial commitment towards supporting the beneficiaries of the “Sakani” program.
This initiative underscores the ongoing efforts to bolster the housing sector, aligning with the broader objectives of Vision 2030.
Real Estate Fund’s Financial Commitment
On October 24, 2023, the Real Estate Fund announced a significant deposit of 959 million Riyals into the accounts of “Sakani” beneficiaries as part of its continuous support towards achieving the goals of the housing program, which is a key component of Saudi Arabia’s Vision 2030.
Support Towards Housing Program “Sakani”
This substantial financial support is directed towards the beneficiaries of the “Sakani” program from the Ministry of Municipal and Rural Affairs and Housing.
The funds deposited by the Real Estate Fund play a crucial role in aiding the beneficiaries, further propelling the objectives of the housing program under the broader framework of Vision 2030.
Statements from Real Estate Fund Officials
Mansour bin Madi, the Executive Director of the Real Estate Fund, elaborated that the total support for October amounted to 959 million Riyals, earmarked to bolster the returns of real estate financing contracts.
He highlighted the cumulative amount deposited into the accounts of “Sakani” beneficiaries since the announcement of the program.
Vision 2030, Housing Sector
The support from the Real Estate Fund is a testament to the larger objectives encapsulated in Vision 2030, which envisages a thriving housing sector.
The “Sakani” program, backed by substantial financial commitments such as this, is a stride towards realizing a robust housing infrastructure, contributing to the overall socio-economic development of the Kingdom.
959 million Riyals by the Real Estate Fund for October 2023 reflects a sustained commitment towards nurturing the housing sector, and by extension, fostering the objectives of Vision 2030.
The Real Estate Fund and other stakeholders continue to work in synergy, advancing towards a prosperous and sustainable housing landscape in Saudi Arabia.
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