Saudi REDF collects SAR 6bn in 2017

Saudi REDF collects SAR 6bn in 2017
REDF collected around SAR 6 billion in the full year 2017

Riyadh – Mubasher: Saudi Real Estate Development Fund (REDF) collected around SAR 6 billion in the full year 2017, the highest ever collection from borrowers made in a single year, Sheikh Khalid Al Amoudi, supervisor of REDF, said.

Currently, the fund is working on finishing the waiting list that comprises around 500,000 applicants.

The supervisor affirmed that there are around 18 financing institutions to guarantee that all beneficiaries receive their residential funding.

During 2017, the number of beneficiaries reached 85,000, while the REDF targets 100,000 beneficiaries in 2018.