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Real Estate Fund launches "Alternative Financing" program to support more families in homeownership
The Real Estate Development Fund has announced the launch of the "Alternative Financing" program to boost housing finance in Saudi Arabia, aiming to increase banks' lending capacity and facilitate families' ownership of their first homes. The initiative will begin in collaboration with the National Commercial Bank and the National Housing Company, providing financing for the purchase of residential units in selected projects in Riyadh, Jeddah, and Dammam. Monthly installments start at 699 SAR, and the program aims to accelerate homeownership rates to 70% in line with Saudi Arabia's Vision 2030.
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