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 Off Plan Financing

 Off Plan Financing by Bank Albilad

18-10-2022


Installment of the down payment with 0 % profit margin   


Get your dream home with Bank Albilad! 


In cooperation with the Real Estate Development Fund and the Ministry of Housing, Bank Albilad offers you off plan financing. So, the wait is over! We give you the opportunity own your home from the approved development projects through the accredited developers with an easy and flexible financing options!
This program is under the supervision of “Wafi” committee.
​

What are the differentiating features of the Off-Plan Financing? 


  • Sharia-compliant financing service 
  • Installment of the down payment with 0 % profit margin   
  • Customer only pays part of the instalments “profit only” during the construction period and up to 24 months
  • Fixed profit margin during the whole contracting period
  • Up to 65% for the dept burden ration “DBR”
  • Financing period of up to 25 years 
  • Financing amount up to SAR 5,000,000
  • Available with no salary transfer for banks employees and approved sectors employees
  • Available to retired customers also
  • Ability to apply for joint financing with one of your first-degree relatives
  • Competitive prices on real estate units in the off-plan projects
  • Guarantees on your property

Terms and Conditions 


  • Open current account with Bank Albilad
  • Customer must be 21 years or older
  • Customer must be an employee of a public or private sector approved by Bank Albilad.
  • Customer's salary should be 3,000 SAR or more
  • Customer should be 70 years or younger when making the last payment
  • Real estate must be from the approved projects by MOH "Wafi committee"
  • Available only to REDF and MOH customers


​

Required Documents


Customer Documents

  • Valid ID
  • ID copy for military employees
  • A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment

Real estate documents

  • Providing price quotation for the unit desired from one of the approved projects by Bank Albilad
  • Filling “financing” form

The approved projects for Off-plan


City
Project NameUnit TypeProject file
RiyadhRiyadh Housing 1Apartments
 Click here
​Riyadh
​Sedra1 
​Town House - Villas
​Click here
Riyadh
Murcia Apartment - Town House
 Click here
RiyadhISHRAQ LIVINGVillas
 Click here
Riyadh
PULSE QIRAN Apartment - Town House
 Click here
RiyadhEAST GATE Villas - Town House Click here
Riyadh
SHSMS ALDIYAR  Villas - Town House Click here
​Riyadh
​Saraya Al Narjis
​Apartment - Town House
​Click here
​Riyadh
​Deyar Alsaad
​Villas
Click here
​​Riyadh
​alrabiyah
​Villas
​Click here
​​Riyadh
​almuhanadiyadh
​Villas
​Click here
​​Riyadh
​AL DHAHIA
​Villas - Town House
​Click here
​​Riyadh
​MASKAN HEIGHTS
​​Villas
​Click here
​Dammam
​no’ma’a
​Apartments
​Click here
Dammam
Nisaj Town
 Villas - Town House Click here
​Dammam
Al Bayraq
​Villas 
​Click here
​Dammam
​Wahat mada
​Apartments
​Click here
​​Dammam
​Alfaredah
​Apartments
​Click here
​Dammam
​nesaj town 2
​​Villas
​Click here
​Dammam
​WAHET AL DAMMAM
​Villas - Town House
​Click here
​Dammam
​SADEEN
​ Town House
​Click here
​Dammam
​MADD
​ Town House
​Click here
MakkahJawhrat Alrsaifeh Apartments Click here
​​Almadinah
​
​Apartments
​Click here
Almadinah
DORAT ALMADINAH
 Apartments Click here
AlmadinahDORAT ALMADINAH2
 Apartments Click here
​Almadinah
​ESKAN AL-MADUNAH
​Apartments
​Click here
Jazan
Alsafwah Garden Apartments Click here
​Jazan
​dhahiyat king abdullah
​ Villas
​Click here
Tabuk
Basatin Tabuk Villas Click here
​Tabuk
​VALLET Tabuk
​Villas
​Click here
​Jeddah
​OBHUR PARK
​Apartments
​Click here
​Jeddah
​Jeddah Gardens
​Apartments
​​Click here
​​Jeddah
​Tahliyah Gate Towers
​Apartments
​Click here
Jeddah
Finan
 Apartments Click here
Jeddah
Telal Alghoroub Apartments Click here
JeddahAljawhrah Residence Apartments Click here
JeddahA'ali Jeddah Apartments Click here
JeddahRoba Jeddah Apartments Click here
Jeddah
Bouvardia City Apartments Click here
​Jeddah
​almuhanadiyah
​Villas
​Click here
​Jeddah
SAMA JEDDAH
​Apartments
​Click here
​Jeddah
​DAR SUMO
​​Villas - Town House
​Click here
TayefAlworod City Villas Click here
​Alahsa
​Jadan life
​Villas
​Click here
Alahsa
Deyar Alahsa Villas - Town House Click here
AlahsaAlbayraq Villa Villas Click here
Khamis Mushait 
WAHET AL-KHAMIS Villas - Town House
 Click here
​Khamis Mushait
TELAL ALKHAMIS- One Trench
​Apartments
​Click here
​Khamis Mushait
​The New Wahat Al-Khamis
​Villas - Town House
​Click here
Yanbu Aldeyar pearl Town House Click here


Terms & Conditions apply​

FAQs

 

Is there any management fee?

The management fee is 1% of the financing amount with cap of SAR 5,000.

 

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Off-plan Financing ​
Real Estate valueSAR 500,000
Finance amount90% of real estate value
Type of profit margin (Fixed or Variable)Fixed Rate 
 APR6.70%
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration25 years
Type of installments
Funding principal and profit 
​Finance Amount
​450,000.00 SAR 
Monthly installment3,093.75 SAR 
Early settlement
The value of the remaining asset with an additional 3 months earnings
*Terms and conditions apply
The annual percentage rate varies based on the amount and maturity period and Subjected to the customer's credit history
​

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