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  • 27-02-23

    Saudi REDF raises USD246M for Sakani’s housing projects during February

    (MENAFN) Saudi Arabia’s Real Estate Development Fund deposited SR924 million (USD246 million) in the banks of Sakani beneficiaries during this month.

    The Sakani strategy was started 6 years ago (2017) by the REDF to ease home possession in the nation, by improving additional housing stock, allocating plots and homes to nationals and funding their acquisition.

    This deposit comes along with the nation’s determined Vision 2030 plan that targets to supply adequate as well as affordable housing prospects for Saudi families.

    Mansour bin Madi, chief executive of REDF stated that the deposit of SR924 million is raised to back the deals of the numerous housing backing plans, as reported by Saudi Press Agency reported.

    He also mentioned that the overall amount deposited in the accounts of Sakani beneficiaries since the declaration of the alteration plan in June 2017 until February 2023, surpassed SR45.3 billion.

    Last month, REDF deposited SR912 million in the account of Sakani beneficiaries to back subsidized real estate funding deals.

    MENAFN27022023000045014228ID1105650950

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