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SDB signs deal with KSA government to boost real estate market

Deal will provide financial support for all real estate projects nominated by Ministry of Housing

Saudi Arabia’s Social Development Bank has signed an agreement with the Kingdom’s government to provide financial support of up to $80,000 for all real estate projects nominated by the Ministry of Housing.

The ministry has also inked an MoU with the Social Development Bank for the development and funding of micro-businesses in the field of real estate and to help train people to run real estate brokerage facilities, SDB added in a statement.

As per the deal, SDB will provide a portfolio of financial and non-financial products for these businesses to benefit from opportunities in the real estate sector in order to start commercial projects, it added.

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