The Real Estate Development Fund (REDF) in Saudi Arabia has approved 10691 new loans for establishing 1283,000 apartments in various provinces, cities, and centers under the fund’s coverage, based on priorities.
REDF: 5.3 Bln Riyals for Building 13.000 Apartments in KSA
According to the Saudi Press Agency “SPA”, the Muhammad bin Ali Al-Abdani, General Director of REDF, the value of these loans has exceeded 5.3 billion Riyals, which represents the fourth installment of the loans approved as part of the budget of the fiscal year 1433/1434 AH.
It added that the support provided by King Abdullah bin Abdulaziz Al Saud, the Custodian of the Two Holy Mosques, and the Crown Prince (God bless them), has increased the number and amount of the approved loans. It also praised Housing Minister Dr. Shoish bin Saud El Dwoihy, Chairman of REDF’s board for his continuous supervision on the fund.
