Off Plan Financing

Off Plan Financing by Bank Albilad

​Last update on 25-05-2021

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 
  • 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 20 years for REDF and MOH customers
  • Financing Period of up to 30 years for non-supported customers
  • Financing amount up to SAR 5,000,000
  • 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
RiyadhMurcia 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
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
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
TabukBasatin Tabuk Villas Click here
JeddahFinan
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
AlahsaDeyar 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
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 
 APR7.23%
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration30 years
Type of installmentsFunding principal and profit 
Monthly installmentSAR 2,993.75
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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