DR. IBRAHIM AL-ASSAF, MINISTER OF FINANCE, TODAY TOLD THE OPENING CEREMONY OF THE FIRST EURO MONEY CONFERENCE ON HOUSING FINANCE, CURRENTLY ONGOING IN RIYADH, THAT THE REAL ESTATE FUND HAS SINCE ITS ESTABLISHMENT AND UNTIL THE END OF 2006 GRANTED 510,811 LOANS TO BUILD NEARLY 610,000 HOUSING UNITS IN NEARLY 4000 CITIES, CENTERS AND REMOTE AREAS IN THE KINGDOM. HE SAID THE FUND'S CAPITAL WAS RAISED SEVERAL TIMES SINCE ITS INCEPTION, CITING A SR9 BILLION INCREASE IN 2004, AND SR9 BILLION IN 2006. THIS ENABLED THE FUND TO PROVIDE SOME 53,000 LOANS IN 2005 AND 2006, HE SAID, ADDING THAT THE MOST SERIOUS PROBLEM REMAINS THE ARREARS OF BENEFICIARIES WHICH HE SAID, IF SETTLED IN DUE COURSE, WOULD PROVIDE THE FUND WITH ADDITIONAL SOURCE TO FINANCE THOSE ON LIST.
