Eng. Yousef Alzogaibi General Manger of Real Estate Development Fund , revealed that the stop of receiving loan requests ,is temporary in order to organize some arrangements that will contribute in facilitating and allowing more options in loans .
He also clarified that the Fund will create various programs which will suit everyone indicating that the current list consists of 425 hundred thousand applicants and 110 were given the approval to be loaned . These 110 applicants will undergo procedures according to their needs after studying their cases . Moreover, he mentioned the release of mortgage fund to support real estate funding for those who deserve the support . Also, expenses of funding will be reduced . In addition , the fund will innovate programs and solutions to support real estate funding .
He also added , that urgent loans will be released during the upcoming days. He indicated that these loans are optional and not obligatory . Also , he confirmed that the program will enable applicants to obtain their loans within five years from the start of creating the Mortgage Fund .