National Housing inks SAR 2 bln Murabaha facility with Bank Albilad

02/06/2021 Argaam

National Housing Co. (NHC) signed today, June 2, 2021, a Murabaha financing facility with Bank Albilad at SAR 2 billion, according to a company statement.

 

The loan facility will be used to finance the infrastructure works of the company’s ongoing and future projects in Al-Jawan in Riyadh, and Khayala in Jeddah, in addition to other housing projects in partnership with highly-qualified real estate developers, in a way that will help enriching the industry with innovative products.

 

“The deal falls within the company’s strategy aimed at boosting the housing projects, in line with Vision 2030,” stated Mohammed Al-Batta, NHC chief executive officer.

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