REDF Program

Overview

Dar Al Tamleek was appointed to administer the Public Pension Agency’s Masakin program. The Masakin product is sponsored by the Public Pension Agency to provide government and private employees and their families with the ability to purchase the home of their dreams through a sponsored home finance program.

The REDF Subsidized Lending Program has collaborated with the Public Pension Agency’s Masakin program to provide the most exceptional subsidy government loan program for approved beneficiaries employed in the government or private sector and all pensioners from both the Public Pension Agency and General Organization for Social Insurance. The program was designed specifically to increase the percentage of citizen's home ownership and as part of this program, the Real Estate Development Fund will provide the beneficiaries with a monthly subsidy to cover the beneficiary's cost of financing profits for up to SR 500,000. The beneficiary may also receive a higher amount of funding if he desires and his financial ability is acceptable to cover the additional funding. Moreover, the REDF also offers a Down Payment Guarantee Program for some eligible customers in addition to the Subsidized Lending Program.

The Masakin REDF Subsidized Lending Program and Down Payment Guarantee Program has a number of unique benefits to offer government employees and pensioners such as:

  • Fixed rate / Fixed Payment
  • Without salary transfer
  • Six month grace period
  • Deed in the client name
  • Financing up to 30 years
  • Financing up to age 70 years
  • Shariah compliant
  • Life insurance in case of death

Program Summary

Shariah principals
All programs are compliant with Shariah principals. Read more
Fixed rate

Fixed Profit Rate (Murabaha) with no salary transfer.

In Case of death
Exempt payments in case of disability or death (God forbid).
Finance sector
Government and private sector employees and for all pensioners from both the Public Pension Agency and General Organization for Social Insurance, including some of semi government retirees who are REDF beneficiaries.
Property financed
Finance all common types of real estate, Apartments, Villas, Duplexes, and Multi-family investment Property.
Eligible for program
REDF beneficiaries for the Subsidized Lending program for all Government or private sector employees and all pensioners from both the Public Pension Agency and General Organization for Social Insurance.
Source of income
Full credit for sources of income.

Awards

Dar Al Tamleek has received many Awards Learn more

Employees Testimonial

My passion is making a difference and standing out in any place I belong to. I joined Dar Al Tamleek because I believe it will provide me with a dynamic challenging working environment. I am eagerly anticipating being a productive Dar Al Tamleek member
Jaydaa Baeshen
Jaydaa Baeshen
I joined Dar Al Tamleek because it enables me to make an impact on individuals, and society. It encourages a culture truly dependant on teamwork. Every achievement you make in this company is a collective effort of the team.
Ruaa Banaja
Ruaa Banaja

Customers Testimonial

The wonderful Masakin program from Dar Al-Tamleek made things easy for me. As a prior government employee in military sector, I’ve got the proper funding with the most reasonable period of time to pay it back.
Abdullah Abu Taleb
Abdullah Abu Taleb
My family and I now live in our dream home; I’ve got the proper funding from Dar Al-Tamleek through Ijarah program. I have more than twenty years to pay it back. The program provided me with all the necessary advisory funding plan I’m looking for.
Basim Munshi
Basim Munshi
Yes, I’ve owned of my dreams home... it happened very fast and through Masakin program from Dar Al-Al-Tamleek, which provided me with all the necessary advices. Their advisers were beside me form the first moment I’ve submit my application until the moment I’ve received the key to my home
Qasim al-Mahdi
Qasim al-Mahdi

5 Career Benefits at Dar Al Tamleek

  • Competitive salaries & remunerations
  • Advanced training & job security
  • Social insurance
  • Health insurance
  • Incentives & Bonus

Press Contacts

Rfal Maghrabi

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