Riyad Bank has made a distinctive mark on Saudi Arabia’s real estate sector through a mix of strategic financing initiatives, collaborative projects and active participation in national programmes.
In a notable example of its real estate lending activity during the review period, the bank provided SR50 million ($13 million) in financing to Banan Real Estate Company. This five-year credit facility, secured by a promissory note and the continued mortgage of existing properties, supported the client’s business expansion.
Another headline achievement saw the bank introduce Riyad Real Estate Development Fund – Durrat Hitteen. Launched in partnership with Al Ramz Real Estate Company, and valued at more than SR0.5 billion, this fund targets the development of a mixed-use project in the Hitteen district of Riyadh. The project will feature a commercial complex with a leasable area of 30,000 sqm, including offices, retail spaces and restaurants, strategically located near attractions such as Riyadh Boulevard.
The lender also actively supported various initiatives to promote the national real estate sector, like the Future Real Estate Forum, as well as initiating its own programmes to assist investors and developers across the country.
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