Saudi Focus

$1.46bn real estate loans approved

June 2014

The Saudi Real Estate Development Fund (REDF), has approved 11,000 real estate loans totalling SR5.5 billion ($1.46 billion) to eligible citizens to build 13,202 housing units across the country, said a report.

Housing Minister Shuwaish Al Duwaihi, who is also chairman of the board of directors of REDF, said this is the first batch of loans from the fund’s budget for 2013-2014, reported the Saudi Gazette.

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