The Real Estate Development Fund (REDF) in Saudi Arabia has deposited today SAR 978 mn into the accounts of beneficiaries enrolled in the “Sakani” program, which is overseen by the Ministry of Municipal, Rural Affairs and Housing and the Real Estate Fund, Invest-Gate reports.

This deposit for the month of May 2024 is part of the ongoing efforts to support beneficiaries and achieve the objectives of the housing program.

Mansour Bin Madi, CEO of the REDF, clarified that the total support for the current month of May has been allocated to enhance the profits of various housing support program contracts.

He further noted that the total amount deposited in the accounts of residential beneficiaries since the inception of the transformation program in June 2017 until May 2024 has reached SAR 59.5 bn.

Bin Madi emphasized that the housing support program offers diverse financing and housing solutions, including immediate non-refundable support of up to SAR 150,000, along with other supportive benefits to facilitate the journey of beneficiaries in acquiring suitable housing based on their financing capabilities and housing requirements.