Press Releases

<p>Riyad Bank signed a cooperating agreement with the real estate development fund to provide support services that are related to property evaluation and technical visits to follow up with the self-build phases for the beneficiaries from the subsidized home financing at the real estate headquarter in Riyadh city. The agreement was signed by the general supervisor of the real estate development fund Mr. Mansour bin Madi and Riyad Bank CEO Mr. Tareq Alsadhan.</p><p>The general supervisor stated that this agreement is one of the benefits of the partnership with the financial sectors and financial institutions under the Housing program “Iskan” as part of the fund partnership with the financing institutions.</p><p>The general supervisor mentioned that this agreement aims to strengthen the partnership between the parties regarding providing support services for property evaluation and the technical visits to allow follow up on steps reached in homes phases construction to the beneficiary in line with the context of serving the mortgage beneficiary, he also stressed on real estate development fund efforts in providing their services in a partnership with the public and private sectors according to international standards in contribute to organizing and improving the quality of the finance solutions.</p><p>The CEO of Riyad Bank Mr. Tareq Alsadhan mentioned that Riyad Bank is proud of this agreement as it adds to the partnership between the public and private sectors, he also added that Riyad Bank is hoping this agreement will provide the best financial services and solutions to suit the customers needs and enable them to own the suitable house easily with easy terms payment plans enabling the cooperation with th real estate development fund and ministry of housing.</p><p>It’s worth to mention that subsidized home financing contracts from the real estate development fund from the beginning of the transitions until the end of August 2020 reached more than 330,000 mortgages which were granted to “Sakani” beneficiaries from the ministry of housing and the real estate development fund in cooperation with all banks and financial institutions to provide different services i.e., self-build, ready to move in units or buildings under construction.</p>