Riyadh Bank has opened its business center in the Banks and Developers Hall at the recently established Real Estate Development Fund headquarters in Riyadh, with the aim of streamlining procedures and facilitating communication channels between the Fund’s clients seeking additional financing, through a fast and streamlined process. Riyad Bank is one of the first financial institutions to sign an agreement with the Real Estate Development Fund to implement the “Additional Financing” program under the mortgage system, which will enable the bank’s customers who have been approved for a loan by the Fund to obtain additional financing covering the remaining value of the property under a flexible repayment mechanism that takes into account the customer’s needs and financial capacity, thereby ensuring that the financing obstacles preventing the Fund’s customers from owning suitable housing are overcome.
Starting last Sunday, Riyad Bank employees began receiving Fund clients seeking additional financing. Through its business center at the Fund’s headquarters, the bank provides comprehensive information about the program, accepting financing applications, and processing them with ease and convenience.
Saleh Al-Saif, Senior Vice President and Head of Retail Banking Products and Services at Riyad Bank, stated that the bank’s launch of its center within the hall designated for financing and development entities at the Real Estate Development Fund is an extension of the conveniences the bank is committed to providing its customers to save them time and effort, and represents added value to the partnership between the bank and the Fund for the purpose of implementing the “Additional Financing” program, accelerating the pace of transaction completion, and streamlining the process. Al-Saif emphasized that Riyad Bank is committed to ensuring the success of the ““Additional Financing” program,” given its capabilities, long-standing experience, and leadership in the real estate finance sector, as well as its integrated system of Sharia-compliant financing services and products designed to meet all of its customers’ real estate needs.
