2006 News Story

Real Estate Development Fund approves $320 million in mortgage loans

The Real Estate Development Fund has approved $320 million in loans for 4,333 Saudi citizens to build 5,200 residential units in different parts of the Kingdom, the Riyadh Daily reported December 24.

Director-General Mohamed Al-Harbi said in a statement that the Fund has financed $3.9 billion in private loans since Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz increased the organization’s capital.