The words and expressions defined in this Regulation shall have the meanings set forth opposite each of them, unless the context requires otherwise:

• Law: Real Estate Development Fund Law.

• Regulation: The Implementing Regulation of the Law.

• Ministry: Ministry of Municipal and Housing Affairs

• Fund: Real Estate Development Fund

• Council: Board of Directors of the Fund.

• Secretary of the Council: The Fund employee who performs the duties of the Council Secretariat

• Electronic Portal: The unified electronic portal established by the Fund for users to benefit from the services provided by it.

• Financing: What the Fund provides of direct or subsidized real estate loans or guarantees provided to real estate developers and financing entities

• Beneficiary: A person who has a loan application with the Fund or the Ministry and whose application has been approved, or any other loan application lists approved by the Board of Directors.

• Subsidized Real Estate Loan: A residential real estate financing program provided by the Fund to the beneficiary through licensed financing entities, with profits subsidized by the Fund fully or partially, through contracts concluded for this offer.

• Direct Real Estate Loan: The loan provided by the Fund to beneficiaries from its capital.

• Guarantees: Documents issued by the Fund which establish a direct credit right in favor of the financing contract.

• Guarantee Agreement: An agreement concluded between the Fund and financing entities under which the Fund provides full or partial guarantees to the financing entity for what is provided to certain targeted categories benefiting from the subsidized real estate loan.

• Support Matrix: The approved mechanism based on which the support percentage is calculated

• Support Amount: The amount calculated for the beneficiary according to the support matrix

• In-kind Support: The discount obtained by the beneficiary from the value of the land or housing unit acquired.

• Products and Initiatives: Programs and types of financing approved by the Fund to enable the beneficiary to obtain housing.

The aim of this Regulation is to establish the regulatory framework governing the practices of the Real Estate Development Fund and the mechanisms for their implementation within the limits set forth by the Law.

1- Without prejudice to what is required by National Security for confidentiality, the fund shall establish an electronic portal that allocates a special account for each user so that they can benefit from the services provided by the fund.

2- The portal must ensure privacy, confidentiality, security, and transparency of information, along with the integrity of the procedures.

3- The fund may allocate a register in the portal for each participating funding entity, in which all information, data, and procedures related to the financing products it offers are recorded.

4- The fund may charge a financial fee for the services provided by the portal, and the Council shall determine the amount of this fee.

The types of beneficiaries whose applications are processed are:

• 1- Beneficiaries of the Fund who have loan applications with the Fund and whose applications have been approved.

• 2- Beneficiaries of the Ministry who have loan applications with the Ministry and whose applications have been approved.

• 3- Any other lists of loan applications approved by the Council.

Without prejudice to the Law and the Regulation:

• 1- Applications from the beneficiaries of the Fund shall be processed in accordance with the programs and products allocated to them from the Fund.

• 2 - Applications from the beneficiaries of the Ministry shall be processed in accordance with the programs and products allocated to them from the Ministry.

• 3- Applications for other loan requests specified in paragraph (3) of Article (4) shall be processed in accordance with what is approved by the Council. 

The council may set a deadline for beneficiaries to utilize the claim before it is canceled.

The types of financing provided by the fund are as follows:

• 1- Supported Real Estate Loan.

• 2- Direct Real Estate Loan.

• 3- Guarantees provided to beneficiary developers.

• 4- Loans provided to financing entities and real estate developers.

• 5- Any other types that are determined by the Council in a manner that achieves the fund's objectives and aligns with the nature of its activities.

The Council shall determine the conditions, controls, and specific terms for each type of financing mentioned above.