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Saudi Arabia’s REDF approves SR5.5bn in loans for 13,202 housing units

May 17, 2014 3:13 am

Saudi housing minister, Shuwaish Al-Duwaihi, who is also chairman of the Saudi Real Estate Development Fund (REDF), has approved 11,000 real estate loans, totalling SR5.5bn to eligible citizens to build 13,202 housing units in various parts of the kingdom, Saudi Gazette has reported. The amount is the first batch of loans from the fund’s budget for 2013-2014. The names of eligible citizens would be announced next week, the fund said.