(MENAFN)According to SPA, Saudi Arabia’s Sakani housing program beneficiaries took SR734 million (USD195.7 million) from the Ministry of Municipal and Rural Affairs and Housing and The Real Estate Development Fund (REDF) in the current month, increased from SR587 million a year earlier.
Arab news quoted Mohamed AlKhars, a member of the housing program advisory board and the chairman of Innovate Property Co. as saying that this steady improvement is going to remain for the coming years.
He further declared that support for citizen’s first homes is going to be a policy that continues in places for many years in the Kingdom.
AlKhars added that the cost of support dropped, saying, “There has been a drop in the interest on loans during the last three years, after negotiations with financiers, which are paid by the REDF.”
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