Riyadh, Muharram 27, 1448 AH, corresponding to July 12, 2026, SPA – The Real Estate Development Fund today launched its innovative program "Alternative Financing," aimed at enhancing the housing finance system in the Kingdom of Saudi Arabia by increasing banks' lending capacity, thereby supporting more families in owning their first home. The "Alternative Financing" program enables the Real Estate Development Fund to provide support to beneficiaries in cooperation with participating banks, strengthening the housing support system offered by the Fund and expanding opportunities for sustainable home ownership. The first phase of the program's implementation began through a strategic partnership with Saudi National Bank (SNB) and the National Housing Company (NHC). The Real Estate Development Fund provides the necessary support for mortgage issuance processes by Saudi National Bank (SNB), while the National Housing Company (NHC) offers selected units to Saudi citizens wishing to own their first home. Eligible customers can purchase homes in selected projects of the National Housing Company (NHC) in Riyadh, Jeddah, and Dammam, with monthly installments starting from only 699 Saudi riyals. Customers benefit from instant financing approval, providing a seamless experience from application submission to obtaining financing approval for purchasing the new home. The CEO of the Real Estate Development Fund, Engineer Louai bin Mohammed Al-Nahhas, said: "The Alternative Financing program provides support that enables more first-time home buyers to obtain housing financing, contributing to building a stronger and more resilient housing finance system in the Kingdom." He added: "Our collaboration with Saudi National Bank and the National Housing Company brings together financing, housing supply, and government support within a unified customer journey, serving as a practical example of how strategic partnerships facilitate, accelerate, and enable home ownership for Saudi families." As the "Alternative Financing" model expands to include additional banking partners, the Real Estate Development Fund expects the program to increase sector-wide lending capacity, provide greater liquidity within the financial system, and support higher levels of mortgage issuance. This launch marks the implementation of the Fund's "Alternative Financing" model. With additional banks joining the program, the Fund anticipates that the model will expand mortgage lending capacity across various regions of the Kingdom, strengthen the housing finance system in Saudi Arabia, and accelerate progress toward achieving the Saudi Vision 2030 target of raising home ownership to 70%.