Saudi Arabia’s Real Estate Development Fund (REDF) plans to sign agreement with two new banks this month to provide finance as part of a state-subsidized mortgage program for citizens, Al-Eqtisadiah newspaper reported, citing sources familiar with the matter.

 

A total of eight banks have joined the program so far, including Riyad bank, Arab National Bank, Alinma Bank, Bank Albilad, Al Rajhi Bank, National Commercial Bank, Banque Saudi Fransi, Aljazira Bank, as well as Bidaya Home Finance. 

 

REDF launched the program in February with the first batch of 7700 beneficiaries, followed by another batch with the same number.  

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