TMCnet News
Saudi approves $1.5bn in housing loans [TradeArabia](TradeArabia Via Acquire Media NewsEdge) The Saudi Real Estate Development Fund (REDF), has approved 11,000 real estate loans totaling SR5.5 billion ($1.46 billion) to eligible citizens to build 13,202 housing units across the Kingdom, said a report. Housing Minister Shuwaish Al-Duwaihi, who is also chairman of the board of directors of REDF, said this is the first batch of loans from the fund's budget for 2013-2014, reported the Saudi Gazette. The agency said the loans were within the ministry's policy of "land and loan" to enable citizens to build their own private houses, it added. ? (c) 2014 Al Hilal Publishing & Marketing Group Provided by SyndiGate Media Inc. (Syndigate.info). |