Residents opinions toward their dwellings built with the support of the real estate development fund

Abstract EN

In the past, private sector housing in Saudi Arabia was mostly undertaken through private initiative and almost all houses were financed through savings of individuals or income of the owners, because of the non-availability of construction finance on a long term basis.

One of the major approaches by the Government for solving the housing problems was the Real Estate Development Fund (REDF).

Its primary objective is to stimulate the development of private sector housing by offering interest free long term loans to Saudi Citizens.

It was established as a semi-government financial institution attached to the Ministry of Finance and National Economy.

This paper provides an overview and analysis of the private sector housing and the role of the Real Estate Development Fund in the support and development for housing construction in Saudi Arabia.

Interviews and questionnaires were conducted with the heads of households in selected dwellings constructed with the support of the Real Estate Development Fund.

(134 questionnaires).

The conclusion of this work stresses the importance and continuation of the fund in order to increase home ownership however additional measures of control need to be carried out.

Recommendations presented in this paper may well help achieve appropriate dwellings that satisfy resident's needs and desires.