"Mohammad Al Habib" Real Estate signed an agreement with Al Rajhi Bank to provide financing starting at 1.10% for beneficiaries of "Kaheel" and "Eyal Sadayem”

“Mohammad Al Habib”  Real Estate Company announced the signing of a strategic cooperation agreement with “Al Rajhi Bank” to provide real estate financing solutions designed for the beneficiaries of the “Kaheel” project in Riyadh and the “Eyal Sadayem” project in Jeddah. The agreement offers an annual profit rate starting from 1.10%, with a financing period of up to 30 years and a fixed profit margin throughout the financing period, providing clients with more flexible and competitive financing options and contributing to enhancing residential ownership opportunities.

This agreement reflects Mohammad Al Habib Real Estate’s commitment to offering added value to clients by integrating residential projects with financing options. These solutions aim to simplify the ownership process and provide beneficiaries with options tailored to their needs and financial capabilities.

Under the agreement, beneficiaries of the “Kaheel” and “Eyal Sadayem” projects can access a dedicated financing option through Al Rajhi Bank. This will lessen financial burdens, increase access to housing units, and offer a more seamless experience that merges high-quality real estate with efficient banking solutions. 

The “Kaheel” project is one of the high-quality residential projects developed by “Mohammad Al Habib Real Estate” in Riyadh. It reflects the company’s vision of developing integrated communities centered on quality of life and sustainability, within a modern urban environment that offers a range of facilities and services to meet residents’ needs.

As for the “Eyal Sadayem” project, it is one of the most prominent residential developments by Mohammad Al Habib Real Estate Company in Jeddah. Located near the sea within the Sadayem destination, the project comprises 390 residential units across 118,550 square meters, with a total building area of 143,970 square meters. It forms an integrated residential community that combines a prime location, diverse facilities and services, and a quality of life that lies at the heart of the company’s vision for developing its residential projects.

Abdullah Al Habib, CEO of Mohammad Al Habib Real Estate Company, stated: “This agreement with Al Rajhi Bank offers our clients a unique opportunity to benefit from one of the most competitive financing offers in the market, which helps to facilitate homeownership and enables a wider segment of families to own their homes within the Kaheel and Eyal Sadayem projects.”

He emphasized: “Offering flexible financing options is just as crucial as creating high-quality housing projects. We are eager to establish strategic partnerships with top financial institutions to offer genuine benefits that help customers confidently decide to own homes. This aligns with the goals of Saudi Vision 2030, which seeks to boost the homeownership rate among citizens.”

For his part, Majed Al-Rajhi, General Manager of Retail Banking at Al Rajhi Bank, said: “This agreement reflects Al Rajhi Bank’s commitment to building strategic partnerships that transform customer needs into more efficient and competitive financing solutions, while expanding homeownership opportunities. It also marks a qualitative step towards strengthening integration between the financial and real estate sectors, supporting investment and development, positively contributing to the national economy and housing-related activities, and is in line with the objectives of Saudi Vision 2030.”

He added: “This partnership offers strategic value to the bank by expanding the beneficiary base for real estate financing solutions, deepening client relationships, and strengthening Al Rajhi Bank’s presence in a sector that is a key driver of economic growth and quality of life in the Kingdom.” 

The agreement underscores the importance of strategic partnerships between the financial and real estate sectors in developing solutions that support homeownership, stimulate economic activity, and enhance the real estate sector’s contribution to sustainable development, in line with Saudi Vision 2030 objectives.