RIYADH: Saudi Arabia’s Real Estate Development Fund launched a programme to help real estate developers obtain funding from different financial institutions, Arab News reported.

The Tatweer programme aims at supporting real estate developers to increase the supply of housing units to meet the market demand and contribute to achieving the target of Saudi Vision 2030 that seeks to increase Saudi homeownership by 70 per cent by the end of this decade.

Mansour bin Madi, the CEO of the fund, said the signing of the first framework agreement with Riyad Bank marked the official launch of the programme. Agreements with other financial institutions are also in the pipeline, he added.