Under the patronage of His Excellency the Minister of Municipal, Rural Affairs and Housing, Mr. Majid bin Abdullah Al-Hogail, and in the presence of His Excellency Mr. Nasser Al-Subaie, Chairman of the Board of Directors of Bank Albilad, the National Housing Company signed today a Murabaha financing agreement with Bank Albilad of two billion riyals. The agreement was signed by by His Excellency the CEO of the National Housing Company, Eng. Mohammed bin Saleh Al-Bati and His Excellency Mr. Abdulaziz bin Muhammad Al-Anizan, CEO of Bank Albilad, at “Shamil Sakani Center” in Riyadh.

The agreement aims to provide facilities for infrastructure work of current and future projects of National Housing Company, in addition to developing more high-quality and integrated housing projects. This is to be achieved through partnerships with qualified and experienced real estate developers and in accordance with an ambitious vision aimed at developing the sector and enriching the market with innovative products.

The CEO of the company, Eng. Mohammed Al-Bati, said: “This agreement is part of the company’s strategy to enhance its role in developing the housing system within the objectives of the Kingdom’s Vision 2030, whose achievements have contributed to raising the percentage of citizens’ ownership of housing to 60% at the end of 2020 and is expected to reach 70% by 2030. Financing agencies have an active role in the real estate development system and represent an essential partner in development.”

He added, "The agreement with Bank Albilad aims to finance construction projects of NHC, such as South Murcia project in Riyadh and East Lakes and Al-Hamdaniya projects in Jeddah. The aim of these projects is to build integrated urban communities in high-quality major sustainable residential suburbs for Saudi families through activating partnerships with the public and private sectors.”

The CEO of Bank Albilad, Mr. Abdul Aziz bin Muhammad Al-Anizan, stated that “Bank Albilad is one of the leading banks in providing integrated solutions for home ownership for all products of the Real Estate Development Fund and the Ministry of Municipal, Rural Affairs and Housing. The signing of this agreement comes within the framework of Bank Albilad’s contribution to supporting the real estate sector in the Kingdom through its ambitious vision 2030. The agreement is a continuation of the important role played by Bank Albilad in meeting the diverse real estate needs of citizens through various real estate financing programs, in cooperation with the Ministry of Municipal, Rural Affairs and Housing, the Real Estate Development Fund and the National Housing Company, which the bank provides to its clients to own a home within a package of multiple and varied benefits.

NHC, which is the investment arm of the Ministry of Municipal, Rural Affairs and Housing, aims to provide quality projects through urban communities with modern designs that keep pace with the aspirations of the citizen by raising real estate productivity. This will help achieve sustainability and create promising investment opportunities.

Bank Albilad also provides its services to all customers through its extensive network of 149 branches across the country, in addition to 5 sales centers in Riyadh, Jeddah, Dhahran, Al Jubail and Al Kharj operating until 9:00 PM, in addition to the Riyadh Front branch that operates to 11 PM and provides advanced technical services, including VR Service, which allows viewing the designs of the house or property provided by the National Housing Company from inside and outside in detail. This helps customers choose their house easily. This in addition to the interactive service that enables the customer to communicate visually with a professional team of male and female ambassadors who provide him with all products and services and answer his inquiries about real estate finance products. Also, Bank Albilad operates a branch in Shamil Sakani center:

This is in addition to a number of branches of the Real Estate Development Fund across the Kingdom.