Press Releases

<p>King Abdullah Economic City, November 8, 2020: Riyadh Bank and King Abdullah Economic City have signed a joint cooperation agreement today, at a signing ceremony held in the Economic City, in the presence of Mr. Tariq bin Abdulrahman Al-Sadhan, CEO of Riyadh Bank, and Mr. Ahmed Ibrahim Linjawi, CEO of King Abdullah Economic City.</p><p>The agreement aims to provide financing solutions from Riyad Bank to clients wishing to take advantage of investments and housing opportunities in various neighborhoods of the Economic City in accordance with the terms and financing standards approved by the bank.</p><p>This partnership will contribute to developing the real estate market by providing financing solutions to various customers segments of society to own property in a quality environment, as well as facilitating real estate services to all customers approved by the bank who wish to benefit from housing offers in the Economic City.</p><p>On this occasion, Mr. Ahmed Ibrahim Linjawi, CEO of King Abdullah Economic City, commented: Today we are pleased to announce the strategic partnership and cooperation with Riyad Bank, as signing of this agreement comes within the framework of the city's continuous efforts aimed providing continues various housing solutions that suit all income levels, and are in line with the goals of the Kingdom's 2030 vision of quality programs of life styles with complete services. He pointed out how the city has recently witnessed a large turnout from various visitors and investors, as it has today become a leading destination for housing, tourism and investment due to its logistical capabilities and advanced infrastructure, as well as world-class recreational, social and sports facilities.</p><p>For his part, Mr. Tariq bin Abdulrahman Al-Sadhan, CEO of Riyadh Bank, said: “We are proud to cooperate with King Abdullah Economic City, one of the most important and largest economic projects in the world, which comes within the initiatives of Riyad Bank to expand its financing operations, and to provide the best levels of service and affordable financing solutions allowing ownership to ready-made housing units within the various neighborhoods of King Abdullah Economic City, in addition to enabling property owners in the city to benefit from mortgage products, self-construction and self-completion for their units.</p><p>It should be noted that the various residential neighborhoods in the Economic City have been designed to meet all the requirements of family life styles and those aspiring to live a distinctive lifestyle, through which they contribute to achieving a quality of life with complete services and basic components within the goals of the Kingdom's 2030 vision, where residents enjoy all the advantages of a modern, advanced environment. The city has been keen to provide various housing solutions that suit all income levels, and to provide all types of housing support and affordable financing solutions to citizens, in cooperation with its successful partners from the public and private sectors within a package of programs and projects.</p><p>Riyad Bank today is one of the most prominent financial active institutions in the field of real estate financing, thanks to the high-quality services and financing solutions developed to fit the needs of all citizens, which in turn contributes to increasing the percentage of citizens owning their homes in line with the Kingdom's 2030 vision.</p>