Definitions

Definitions

The following terms and phrases shall have the meanings assigned to them below whenever they appear in this Annual Report or its appendices unless the context requires otherwise:

General terms
Term Definition
REDF The Real Estate Development Fund.
The Ministry The Ministry of Municipalities and Housing.
Beneficiary Any individual whose loan application with the Ministry of Municipalities and Housing has been approved, or any other loan application lists approved by the Board of Directors.
Housing Support Program Government support aimed at enabling eligible citizens to own suitable housing by reducing the costs of real estate financing provided by financing entities, either through monthly financial support deposits or by providing access to one of the housing support packages.
Financing Entities Banks and finance companies licensed to engage in real estate financing activities within the Kingdom.
Products and Initiatives Financing solutions (product, program, initiative) offered by REDF to enable beneficiaries to obtain appropriate housing.
Channels All Fund platforms and outlets that receive beneficiaries and citizens.
One of the home designs the REDF enables beneficiaries to own One of the home designs the REDF enables beneficiaries to own
Interior detail from homes supported through REDF programs Interior detail from homes supported through REDF programs
Performance indicators and platforms
Term Definition
The Report The annual report of the government entity, pursuant to Article 29 of the Law of the Council of Ministers.
Customer Satisfaction Index (CSI) A metric that measures the percentage of beneficiary satisfaction with the services provided and the level of service delivery across various channels.
Net Promoter Score (NPS) A metric that measures the percentage of beneficiaries who would recommend the products and after sales services.
Real Estate Advisor A government electronic platform that provides beneficiaries with optimal financing recommendations for homeownership based on available real estate supply.
Awareness Index A metric used to measure the extent of beneficiary awareness regarding the financing solutions programs, and enablers provided by REDF.
Trust Index A metric used to measure the level of beneficiary trust in REDF and its role in empowering them.