Riyadh – Mubasher: The board of Saudi Real Estate Development Fund (REDF) on Thursday approved launching a financing guarantees programme, which will serve a huge segment of applicants.
The programme aims to provide real estate financing to REDF applicants through commercial banks, financing companies, in cooperation with the Ministry of Finance and the Saudi Arabian Monetary Authority (SAMA), and to cover risk ratios for financers, REDF said in a statement.
The programme will benefit employees in the civil, military, and private sectors as it coordinates with the Public Pension Agency, the General Organization for Social Insurance (GOSI), and the Small and Medium Enterprises Authority, REDF added.
On another note, REDF announced that its board agreed to requests for transferring loans, in which the borrowers would assign their loans to first class relatives, who fulfil the REDF's requirements.
