REDF dominates 74% of local mortgage market: CEO

23/01/2024 Argaam
Mansour bin Madi,CEO ofReal Estate Development Fund (REDF)

Mansour bin Madi,CEO of Real Estate Development Fund (REDF)

The Real Estate Development Fund (REDF) accounts for 74% of the local mortgage market that recorded SAR 625 billion from 2017 until the end of 2023, said CEO Mansour bin Madi.


The financing programs and solutions offered for housing support enabled more than 755,000 beneficiaries to sign their financing contracts at a total value of over SAR 465 billion during the same period, Madi told a panel in the Real Estate Future Forum held in Riyadh. 

 

He indicated that the total amount deposited in the accounts of residential beneficiaries from 2017 until the end of 2023 exceeded SAR 55 billion. 

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