Thakher Development Company in Makkah Signs an Agreement with Saudi British Bank (SABB)

Jeddah : gulftech

Thakher Development Company, the master developer of the master plan and infrastructure of Thakher Makkah project, announced signing an agreement with the Saudi British Bank (SABB).

The agreement offers Thakher’s customers a wide range of finance solutions including financing off-plan sales, in line with the company’s mandate to meet the customers’ needs and expectations.

It was signed by Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company, and Mohammed AlMousa, General Manager Branches & Sales at Saudi British Bank (SABB).

Thakher Makkah project recently obtained the off-plan sales permit from Wafi off-plan sales and rent committee in the Ministry of Municipal & Rural Affairs & Housing in Saudi Arabia.

 Eng. Abdulaziz bin Saleh Al-Aboudi, said: “We are proud in our collaboration with (SABB), which comes as a proof of trust and support from our partners. This agreement comes as part of Thakher efforts to collaborate with financing firms to provide the best options and products to our customers and to achieve the best results in line Vision 2030 objectives”.

Mohammed AlMousa, commented: “We are pleased to announce this collaboration with Thakher Development Company, the master developer of one of Makkah’s most important projects. This collaboration comes in line with (SABB) efforts to provide various financing solutions that suit all customers, and to support and develop the real estate sector in the kingdom to achieve the objectives of Vision 2030.”

Thakher project’s first phase is almost completed, while the second phase is expected to be delivered in 2024.

Thakher Makkah project contributes to the Kingdom of Saudi Arabia’s ambitious vision 2030, which aims to host 30 million Umrah performers and six million pilgrims by 2030. The project is spanning over an area of 320,000 sqm. Upon completion, it will include about 100 land plots of various uses for hotels, residential, commercial, and service-related areas. Residential and hotel apartments units will be available in various categories, and the units will be also available for ownership. Among the international hotels in the Thakher Makkah are the Radisson Hotel, the Park Inn by Radisson, and the Novotel Hotel, the largest in the world in terms of room number.

The Saudi British Bank (SABB) is committed to contribute to initiatives and projects that aim to develop the real estate and residential sector in line with the Kingdom’s Vision 2030, and formulate its banking solutions with the highest standards.

SABB offers all real estate financing solutions, including off-plan sales, the purchase of ready-made units and lands, self-construction, mortgages, in addition to a housing and liquidity products, and all Real Estate Development Fund programs and the Ministry of Housing programs.