Saudi Entities Sign Agreement To Expand Homeownership Opportunities

Saudi Entities Sign Agreement To Expand Homeownership Opportunities

Saudi Arabia: Saudi Arabia’s Real Estate Development Fund (REDF), the National Housing Company (NHC), and the Saudi National Bank (SNB) have signed a tripartite agreement to increase homeownership opportunities and support the stability of the real estate market. The agreement, signed in Riyadh in the presence of the Minister of Municipalities and Housing Majed Al-Hogail, will provide beneficiaries with access to more than 24 residential projects across the kingdom. These projects will deliver over 40,000 housing units, supported by competitive financing options with profit margins starting from 2.99%.

The initiative forms part of the Housing Programme under Saudi Vision 2030 and aims to expand financing solutions that match the financial capacity and housing requirements of citizens. According to REDF, the collaboration with NHC and SNB will accelerate homeownership rates, diversify available options, and contribute to a more stable real estate sector through integrated efforts between real estate developers and the banking sector.

Source: Zawya