Saudi Arabia’s National Real Estate Development Fund has already helped some 73,000 women access home ownership for the first time through housing loans.
This is an integral part of the development strategy put in place by the Saudi government to be in line with the Vision 2030 structural reform plan, which includes increasing the ownership rate of citizens to 60 percent by the end of 2020 and 70 percent by 2030. Helping women, who make up half of society and are usually the driving force behind accelerated development, to buy their first apartment is a matter of course for any society wishing to secure a bright future.
A head start
This is why the fund is working to facilitate and simplify real estate financing procedures to allow all citizens to receive subsidized mortgages through electronic and immediate procedures. A policy that has allowed all these women to own their first home and thus not only achieve the objectives of the housing programs but also to start life in the best possible conditions. This opportunity is not negligible when one considers the level of difficulty for young people in regions such as ours to become homeowners (in France, in September 2018, approximately 65% of those surveyed believed that it was not easy to become a homeowner).