The Saudi Hollandi Bank signed its first off-plan sales agreement, enabling it to provide real estate financing solutions for the “Diyar Al Salam” project, which is being developed by "Lifestyle" Real Estate Development in Jeddah.
The agreement will enable the bank to provide financing solutions to enable its individual clients eligible for the “Real Estate Financing” program to own residential units of villas and apartments under construction within the "Diyar Al Salam" project, which is located in the Al Salamah neighborhood in the heart of Jeddah, on an area of 9,595 square meters, and includes 96 residential units in 8 buildings constructed within a fully serviced residential oasis, and equipped with various recreational and service facilities.
The partnership with "Lifestyle" is the first practical application of the off-plan sales program, which is being implemented under the direct supervision of the off-plan sales committee. It is one of the new financing options that will stimulate the pace of completion and construction of housing projects by providing the necessary liquidity to real estate developers, in addition to providing an additional opportunity for citizens wishing to own housing units under easy conditions.
The Saudi Hollandi Bank is one of the fastest-growing banking and financial institutions in the Kingdom in the field of real estate financing over the past five years, in addition to providing a comprehensive range of real estate financing solutions that comply with the provisions of Islamic Sharia, which include real estate financing in the form of Murabaha and Ijara, the additional financing program in cooperation with the Real Estate Development Fund, the Housing and Liquidity Program, the Home Construction and Completion Program, and the Real Estate Debt Transfer Program.
The bank had recently received the "Best Real Estate Finance Program for Individuals in the Makkah Region for 2015" award, adding to its record of similar local and international awards.
