Saudi Gazette report

RIYADH — The King Salman Charity Housing Association has signed a tripartite memorandum of understanding (MoU) with the Ministry of Housing and the Mohammed Ibrahim Al-Subaie Waqf (endowment).

The memorandum was signed in the capital in the presence of the ministry’s Undersecretary for Housing Support and Beneficiaries’ Service, Prince Saud Bin Talal Bin Badr, Saudi Press Agency reported on Saturday.

The CEO of the association, Ahmed Bin Nasser Al-Badi’, said the MoU aims at providing housing finance to those Saudis who have been denied the facility by banks.

He added that the association works within an integrated system of partnerships with the ministry, the real estate development sector, the financial sector, and donors such as the Mohammed Ibrahim Al-Subaie Waqf.

Prince Saud said the ministry attaches great importance to empowering citizens most in need. Also present at the signing of the MoH were ministry’s Assistant Undersecretary for Housing Support and Beneficiaries’ Service, Abdul Rahman Al-Tawil, and Chairman of the board of the Mohammed Ibrahim Al-Subaie Waqf, Ibrahim Bin Mohammed Al-Subaie, among other officials.