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Housing support regulations apply to all applications



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The Council of Ministers Decision No. 554 dated 23 Ramadan this year eliminated the misunderstanding in Council Resolution No. 82 of 1435H regarding non-interference of banks and the private sector in the housing finance program. Council has decided to amend the third item of this resolution and the text of the amendment (The housing support regulation applies to all housing loan applications submitted to the Real Estate Development Fund).

The resolution determined that the Fund would meet all requests submitted by the owners before 1432/7/23, in accordance with the rules and procedures established by the Board of Directors in coordination with the Ministry of Housing and guided by the provisions of this regulation, leading to the waiting period of the applicants.

The decision was granted to applicants before the date 1432/7 / 23H, who meet the conditions stipulated in the housing support regulation to modify their applications to qualify for housing support.

The Custodian of the Two Holy Mosques sent a report to the Board of Directors of the National Development Fund after the end of the current fiscal year, indicating the measures taken in the home loan applications submitted to it by the owners before 14/7/1432 .

This decision is from the Council of Ministers and addresses the Board of Directors of the Real Estate Development Fund to clarify the confusion that occurred in the previous period, resulting in the issuance of a series of judicial decisions based on the ambiguity in the interpretation of Article 3 of Resolution 82 , to clarify the previous decision.

Decision of the Council of Ministers: The regulation of housing support applies to all applications submitted to the Real Estate Development Fund.


Previously

The Council of Ministers Decision No. 554 dated 23 Ramadan this year eliminated the misunderstanding in Council Resolution No. 82 of 1435H regarding non-interference of banks and the private sector in the housing finance program. Council has decided to amend the third item of this resolution and the text of the amendment (The housing support regulation applies to all housing loan applications submitted to the Real Estate Development Fund).

The resolution determined that the Fund would meet all requests submitted by the owners before 1432/7/23, in accordance with the rules and procedures established by the Board of Directors in coordination with the Ministry of Housing and guided by the provisions of this regulation, leading to the waiting period of the applicants.

The decision was granted to applicants before the date 1432/7 / 23H, who meet the conditions stipulated in the housing support regulation to modify their applications to qualify for housing support.

The Custodian of the Two Holy Mosques sent a report to the Board of Directors of the National Development Fund after the end of the current fiscal year, indicating the measures taken in the home loan applications submitted to it by the owners before 14/7/1432 .

This decision is from the Council of Ministers and addresses the Board of Directors of the Real Estate Development Fund to clarify the confusion that occurred in the previous period, resulting in the issuance of a series of judicial decisions based on the ambiguity in the interpretation of Article 3 of Resolution 82 , to clarify the previous decision.

June 11, 2019 – 8 Shawwal 1440

The time now is 05:40 PM.


The Council of Ministers Decision No. 554 dated 23 Ramadan this year eliminated the misunderstanding in Council Resolution No. 82 of 1435H regarding non-interference of banks and the private sector in the housing finance program. Council has decided to amend the third item of this resolution and the text of the amendment (The housing support regulation applies to all housing loan applications submitted to the Real Estate Development Fund).

The resolution determined that the Fund would meet all requests submitted by the owners before 1432/7/23, in accordance with the rules and procedures established by the Board of Directors in coordination with the Ministry of Housing and guided by the provisions of this regulation, leading to the waiting period of the applicants.

The decision was granted to applicants before the date 1432/7 / 23H, who meet the conditions stipulated in the housing support regulation to modify their applications to qualify for housing support.

The Custodian of the Two Holy Mosques sent a report to the Board of Directors of the National Development Fund after the end of the current fiscal year, indicating the measures taken in the home loan applications submitted to it by the owners before 14/7/1432 .

This decision is from the Council of Ministers and addresses the Board of Directors of the Real Estate Development Fund to clarify the confusion that occurred in the previous period, resulting in a series of judicial decisions based on the ambiguity in the interpretation of Article 3. of Resolution 82, to clarify the previous decision.

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