Bank Albilad and Al-Mozaini Real Estate Company have signed the first cooperation agreement for a 3x1 product to finance the entire project and the clients of the Future City project. This took place at the Ministry of Municipal, Rural Affairs and Housing, in the presence of Engineer Abdullah Binsaeed, the Deputy Minister for Licensing and Compliance at the Ministry of Municipal, Rural Affairs and Housing, Mr. Fahad Al Hanaya, the Head of the Branch Network Division, and Engineer Ali Al Shehri, the Managing Director of Al-Mozaini Real Estate Company.

Mr. Fahad Al Hanaya, the Head of the Branch Network Division, signed the agreement on behalf of Bank Albilad, while Mr. Basel ِAl Foraih, the CEO of the Future City project, signed on behalf of Al-Mozaini Real Estate Company.

Mr. Fahad Al Hanaya, the Head of the Branch Network Division, stated that “Bank Albilad is glad to have concluded a cooperation agreement with Al-Mozaini Real Estate Company to finance the entire project and the clients of the Future City project through a 3x1 off-plan product. This is the first cooperation agreement in the context of facilitating support for financing and the real estate sector in the Kingdom, whether for developers, landowners, investors or buyers. This is in support of the objectives of the Housing Program and the goals of the real estate sector strategy, and for the development of offer, in line with the objectives of the Kingdom of Saudi Arabia's ambitious Vision 2030, and in continuation of the role played by Bank Albilad in meeting the various real estate needs of citizens”.

His Excellency Engineer Ali Al Shehri, the Managing Director of Al-Mozaini Real Estate Company, stressed that this agreement is the first agreement concluded between financing entities and the real estate development sector. The signing of this agreement today represents an extension of the strategic relationship between Bank Albilad and Al-Mozaini Real Estate Company, through which it will contribute to increase citizens’ ownership of residential products, in line with the objectives of Vision 2030.

Al Shehri also added that the Off-plan Sales or Rent Committee (Wafi) had a major role in organizing such relationship between real estate developers and financing entities, in terms of supporting and organizing everything serving the real estate sector in the Kingdom.

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”.