As things continue to progress and change for women in Saudi Arabia, a new fund has been launched in order to help women in the Kingdom become homeowners.
Per the , the Real Estate Development Fund (REDF) in Saudi Arabia has enabled more than 73,000 women in the Kingdom to obtain mortgages to go on to buy their first home.
Speaking on the incredible achievement for Saudi women, Mansour bin Madhi, general supervisor of the REDF, explained that since the inception of the initiative, it has always been in the plan to help females across the Kingdom.
Since Saudi men make up half of the population in the country, it’s imperative to offer support to aid in the accelerating development, Madhi said.
Under the Saudi Vision 2030, spearheaded by Crown Prince Mohammed bin Salman, one of the main priorities is the homeownership of citizens in the Kingdom – with the aim of reaching 60 per cent by the end of 2020 and 70 per cent by the end of 2030.
A key part of this, under the REDF, opening the door for Saudi women to gain access to a subsidised mortgage loan scheme, in turn helping them to get onto the property ladder.
Changes for women in the Kingdom are also a major focus in the Vision 2030 scheme. Just three months after he stepped into the role in 2017, the Crown Prince unveiled in a royal decree, women would be able to secure driving licenses from June 2018.
Then, in March 2018, it was announced by the Ministry of Justice that women who are divorced in the country would be able to instantly retain custody of their children.
Under his plans, women are now also able to attend sports events in stadiums in three cities, female students in the Kingdom are now allowed to carry their phones while on campus and as of August 2019, women aged over 21 are now allowed to travel independently.
In 2020 alone, there have been many notable history-making moments and appointments in Saudi Arabia paving the way for women.
