Saudi RE Development Fund grants SAR 4 bln in mortgage loans to military

Saudi Real Estate Development Fund (REDF) has allocated more than SAR 4 billion in mortgage loans to the military personnel, Al Arabiya TV has reported, citing spokesperson, Hamoud Al-Osaimi.

“More than 30,000 of the military personnel benefited of these housing loans,” said Al-Osaimi, adding that the fund’s waiting lists include 99,000 citizens whose names will be announced early 2020.

In November, Sakani program, in partnership with the local content and private sector development unit "Namaa", has launched the home finance for military personnel in service initiative, which includes interest-free loan up to SAR 140,000, in addition to a financing up to SAR 500,000.