Mansour Bin Madi, CEO of Real Estate Development Fund
As many as 724,000 supported financing contracts were concluded over the past six years, at a total value of SAR 429 billion, said Real Estate Development Fund (REDF) CEO Mansour Bin Madi.
Speaking at the Euromoney Saudi Arabia Conference 2023, under the title of “Housing Market Opportunities and Challenges”, Bin Madi noted that 72% of the Kingdom’s mortgage finance contracts were supported through various housing programs between Q1 2017 until the end of the first quarter of 2023.
There are 116,000 beneficiaries from the mortgage finance guarantee program, while 104,000 benefited from the soft mortgage program, he added.
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