The Real Estate Development Fund has sanctioned 10,015 loans worth more than SR 5 billion ($1.33 billion) to build more than 12,000 new housing units in different parts of Saudi Arabia.
"The total value of this installment of loans has reached SR 5,007 million and it represents the third installment that has been allocated in the current budget," said Mohammed bin Ali Al-Abdani, director general of the fund.
Citizens, whose loan applications have been approved, are being urged to visit the nearest REDF office to complete necessary formalities.
The government has introduced a series of measures to address the housing needs of citizens, officials said.
Arab News
4 July
