Bank Albilad has signed a cooperation agreement with REDF. This agreement aims at providing the services of the “Tatweer” program to the companies and institutions of the real estate sector, to obtain the necessary financing to establish housing projects in the various areas of the Kingdom.

The “Tatweer” program is one of the programs supporting the development of housing projects with high quality and competitive prices that meet the needs and desires of “Sakani” beneficiaries, and achieve the goals of the Housing Program – one of the programs of the Kingdom’s Vision 2030 –. This is with the aim of raising the percentage of Saudi families’ ownership to 70% by the end of 2030, and providing housing and financing solutions sustainably, by building supportive regulations and legislations.

His Excellency Mr. Abdulaziz Al Onaizan, the CEO of Bank Albilad, signed the agreement on behalf of Bank Albilad, while His Excellency Mr. Mansour bin Madi, the CEO of REDF, signed on behalf of REDF.

This is the fourth agreement at the level of the financing agencies, which will contribute to facilitating the entry of a new segment of the real estate sector establishments that have not previously dealt with the financing agencies.

On his part, His Excellency Mr. Abdulaziz Al Onaizan, the CEO of Bank Albilad, stated that Bank Albilad is one of the leading banks in providing integrated solutions to the products of REDF. He explained that the agreement serves as a confirmation of the joint cooperation to activate the programs supporting the financing and real estate development sector, which will contribute to diversifying the financing and housing options for “Sakani” beneficiaries, to achieve the goals of the Housing Program – one of the programs of the Kingdom’s Vision 2030 –. The signing of this agreement is part of Bank Albilad’s contribution to supporting the real state sector in the Kingdom and the continued role it plays in meeting the various real estate needs of citizens through the various real estate financing programs the bank offers to its customers, for the customer to own a house, land or apartment through the many benefits offered”.

Mr. Mansour bin Madi, the CEO of REDF, stated that the agreement with Bank Albilad comes as an extension of the joint efforts and strategic partnership with the financing agencies to activate the role of the “Tatweer” program, thereby facilitating the access of real estate sector companies and institutions to the financing necessary to establish housing projects in the various areas of the Kingdom. He indicated that “Tatweer” aims to enable demand and increase supply by removing the challenges facing the sector, to promote turnover and achieve balanced urban development.

Bin Madi stressed the leading role played by REDF in developing the residential real estate sector. He confirmed the continued efforts to activate the partnership between the “Tatweer” program and other financing agencies, in order to enhance competitiveness between real estate companies and institutions, to enable them to contribute to providing a variety of housing products at competitive prices and high quality.

It should be noted that Bank Albilad provides its services to all customers through a wide network of more than 150 branches spread all over the Kingdom, including seven self-service centers, in “Riyadh, Jeddah, Dhahran, Jubail, Khobar and Yanbu”. All branches work until 9:00 PM. Bank Albilad is also located at Sakani centers in Riyadh, Jeddah, Khobar and Medina. The bank also provides the latest integrated e-services all day long, including “Albilad Net – www.bankalbilad.com” and Albilad App for smart phones. Bank Albilad provides around-the-clock communication service with its customers via Albilad WhatsApp: +966920001002, Albilad Phone: 920001002, and toll-free number from inside the Kingdom: 8001230000 for general inquiries and remarks, or through social media: @Bankalbilad on “Twitter”, “Facebook”, “Instagram”, “LinkedIn” and “Snapchat”.