REDF launches new payment mechanism for self-build, land and loan beneficiaries

Logo of the Real Estate Development Fund

The Real Estate Development Fund (REDF) launched a new mechanism to disburse financing tranches and housing support for beneficiaries of self-construction, land and loan products who have not completed home construction even after 36 months.

The new process allows eligible beneficiaries to complete construction in no more than six financing installments, state-run Saudi Press Agency (SPA) reported. It includes conditions that ensure continued housing support until full readiness is confirmed.

REDF said the mechanism is part of its efforts to provide sustainable solutions to challenges faced by beneficiaries, helping them access funding, reinstate support, and complete their homes more quickly.

For self-construction beneficiaries, receiving the second tranche requires completing at least 40% of construction. However, land and loan users are not required to meet a completion threshold.

Those who have not yet received the first tranche are also exempt from updating construction progress.

The system includes retroactive reinstatement of housing support after each disbursement. This helps users continue building based on their needs under a governance model that ensures housing readiness.

Beneficiaries must update construction progress within 12 months of each disbursement to keep support active. REDF emphasized this as a key part of maintaining eligibility.

REDF encouraged users to submit extension requests through its online portal at https://portal.redf.gov.sa/service-details/extend-info, enabling access to further financing and resumption of housing support.