Al Rajhi Bank to Fund Saudi Housing Projects
The National Housing Company in Saudi Arabia has inked two agreements with Tadawul-listed Al Rajhi Bank to finance the development of new housing projects in Riyadh and Jeddah worth $533.2m (SAR2bn). The agreements will cover the construction of 14,800 units, under the Ministry of Housing’s Sakani programme, a part of the Kingdom’s Vision 2030 plans. The agreements signed by the CEO of the National Housing Company, Eng. Muhammed bin Saleh Al-Batti and the CEO of Al Rajhi Bank, Walid Al-Muqbel, comes within the company’s framework to deliver more housing projects Saudi families. The projects will be developed with modern specifications, designs, spaces, and will be offered at different prices. Al-Batti explained that that the company, as part of the first agreement, will work on the development of projects located on an area of more than 10 million m2, providing 14,800 housing units, including 3,200 housing units in Riyadh, and 11,600 housing units in Jeddah, as an extension of the various projects the company has been working on.
Tags : INTERNATIONAL Saudi Arabia housing projects FUND Al Rajhi Bank National Housing Company