JEDDAH: More than 40,000 Saudi families are set to gain access to new homes under a tripartite agreement aimed at expanding ownership and stabilizing the real estate market.
The Real Estate Development Fund, National Housing Co., and Saudi National Bank signed the deal in Riyadh under the patronage of Housing Minister Majid Al-Hogail.
The agreement covers 24 residential projects across the Kingdom, with financing options starting from 2.99 percent, and was signed in the presence of REDF CEO Loay Al-Nahidh, NHC CEO Mohammed Al-Bati, and SNB CEO Tareq Al-Sadhan.
The deal is part of efforts to stabilize the real estate market, expand partnerships, and diversify financing, providing off-plan housing beneficiaries with broader options aligned with Vision 2030’s Housing Program.
“The agreement reflects the state’s commitment to providing suitable housing for Saudi families and enhances balance in the real estate market with diverse financing options, in support of the goals of the Housing Program and Saudi Vision 2030,” said Al-Hogail in a post on his official X account.
