Riyadh – Mubasher: Saudi Real Estate Development Fund (REDF) will sign agreements with a number of banks to offer the accelerated loan in 2017, according to Al Jazirah newspaper.
The move comes after REDF signed with Al Rajhi Bank earlier to launch the instant finance programme for housing units, either villas or apartments, so that people on the waiting list would bnefit.
Sources told the newspaper that this comes complementary to a number of initiations to support citizens' housing.
Al Jazirah newspaper quoted Ayham Al Yousuf, director of REDF, saying that the fund seeks finished all the claims of the registrars on the waiting list during a period between 5 and 7 years.
Al Yousuf noted that transforming the fund into a financial institution will help in creating new initiatives and programmes to help fixing the housing crisis.
