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Thakher inks key finance deal with SABB for Makkah project

MAKKAH, November 3, 2022

Saudi-based Thakher Development Company, has signed an agreement with the Saudi British Bank (SABB) that offers its customers a wide range of finance solutions - including off-plan sales - for buying residential unit within its Makkah development.
 
Spanning over a 320,000-sq-m area, the Thakher Makkah project boasts around 100 land plots for various purposes - mainly hotels, residential, commercial, and service-related areas. 
 
The Saudi developer said the residential and hotel apartment units will be available in wide range of categories, and these units will be also available for ownership. 
 
Among the international hotels coming up within the Makkah development are Radisson Hotel, the Park Inn by Radisson, and the Novotel Hotel, the largest in the world in terms of room number, it stated. 
 
The master developer of one of Makkah’s most important projects, Thakher said the first phase of the project is almost completed, while the second phase is likely to be delivered in 2024.  
 
The project had 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. 
 
"The agreement is in line with Thakher Development Company’s mandate to meet the customers’ needs and expectations," remarked its CEO Engineer Abdulaziz bin Saleh Al Aboudi after signing the deal with Mohammed AlMousa, the General Manager Branches & Sales at SABB.
 
Al Aboudi said Thakher was proud of its collaboration with SABB, which comes as a proof of trust and support from the partners. 
 
The agreement, he stated, 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.
 
"Thakher Makkah project contributes to Saudi Arabia’s ambitious vision 2030, which aims to host 30 million Umrah performers and six million pilgrims by 2030," he added. 
 
AlMousa said this collaboration comes in line with SABB's efforts to provide financing solutions that suit all customers, and to support and develop the Saudi real estate sector in bid to achieve the objectives of Vision 2030.
 
"We offer 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, stated the senior official.
 
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, he added.-TradeArabia News Service



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