Al-Sanad Al-Aqari Launches "Alternative Financing" Program to Support Homeownership

The Saudi Real Estate Development Fund has launched the "Alternative Financing" program to enhance housing financing, aiming to increase banks' lending capacity and support families in owning their first homes. The program includes additional financing for banks and involves collaboration with the National Commercial Bank and the National Housing Company. Eligible clients can purchase homes in selected projects with installments starting from 699 SAR per month, with immediate support for loan approval. The program seeks to expand real estate lending capabilities in Saudi Arabia, aligning with the Kingdom's Vision 2030 to raise homeownership rates to 70%.

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