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Real Estate Development Fund Approves SR 6 Billion Loans to Build 24,000 Housing Units
Al Published in Saudi Press Agency on 28 - 02 - 2011

Awwal 25, 1432, Feb 28, 2011, SPA -- The Acting Director General of Real Estate Development Fund (REDF), Eng. Hassan Bin Mohammed Al-Attas said today the Fund approved a new installment of loans inclusive of provision of 20,000 loans to build 24,000 housing units within the framework of the generous support ordered by the Custodian of the Two Holy Mosques, King Abdullah Ibn Abdulaziz Al Saud, to increase the Fund's capital to SR 40 billion.
In a statement to the Saudi Press Agency, he said that this installment is the largest loans payment announced by the Fund since its inception, adding that its beneficiaries will cover Kingdom's cities and provinces in accordance with the priority of the loan application.
He reaffirmed the desire of the leadership to support the process of construction and development in the Kingdom.
Al-Attas also praised the ongoing follow-up of the Chairman of the Management Committee of the Fund and the Minister of Finance, Dr. Ibrahim Abdulaziz Al Assaf.

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