Majid Al-Hogail, Minister of Municipal, Rural Affairs and Housing

Saudi Ministry of Municipal, Rural Affairs and Housing said 17 mortgage loan agreements were signed between Riyad Bank and a number of the real estate development companies to provide financing for housing beneficiaries and help increase home ownership in the Kingdom.

 

The move came to boost the quality of housing services in the Kingdom, increase the real estate developers’ efficiency, and facilitate the home ownership measures, said Majid Al-Hogail, Minister of Municipal, Rural Affairs and Housing, on his official Twitter account.

 

Under these agreements, the real estate developers will secure mortgage loans to finance mega projects to be offered at competitive prices.

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