REDF partners with NHC, SNB to support homeownership in 24 projects

Signing ceremony

The Real Estate Development Fund (REDF) signed a tripartite agreement with National Housing Co. (NHC) and Saudi National Bank (SNB) to support beneficiaries' ownership of under-construction housing units.

The tie-up enables homeownership in more than 24 housing projects across the Kingdom, encompassing more than 40,000 residential units and serving above 40,000 beneficiaries, REDF said in a statement.

This is in addition to scaling various homeownership opportunities by offering competitive financing packages, with a profit margin starting from 2.99%.

It added that a range of innovative financing solutions will be provided, including down-payment support of up to SAR 150,000, the "Your Support is Equal to Your Installment" program, in-kind support, among others.

The fund also indicated that the tripartite agreement aims to strengthen strategic partnerships and diversify financing options for beneficiaries.