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الاقتصادية - CNN

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Saudi Arabia's "Alternative Financing" Program to Provide Larger Funding for Homeownership

Saudi Arabia's "Alternative Financing" Program to Provide Larger Funding for Homeownership

The Saudi Housing Development Fund has launched the "Alternative Financing" program, aimed at enhancing the housing finance system and increasing banks' lending capacity to support more Saudi families in homeownership. The program includes providing additional funding to participating banks and, in its first phase, involves collaboration with the National Commercial Bank and the National Housing Company. Through this initiative, customers can purchase homes within selected projects in Riyadh, Jeddah, and Dammam, with loans starting from 699 SAR per month. The program's goal is to boost the banking sector's ability to issue real estate financings, strengthen liquidity, and accelerate the homeownership rate among citizens to 70% by 2030.

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