https://arab.news/nyfjz
Majed Al-Hogail, minister of municipal and rural affairs and housing, honored the Saudi British Bank (SABB) with the “Best Developed Financing Provider” award, in recognition of the bank’s active role in achieving the Sakani housing program’s objectives and enabling home ownership among Saudi families by providing the best housing finance offers and solutions.
Sakani is a real estate initiative launched in 2017 by the Ministry of Housing and the Real Estate Development Fund to support Saudi citizens to own their first home.
The award was presented during the Sakani Program Forum for the second quarter of 2021 in Riyadh, in the presence of the program’s financing and real estate success partners. Notably, SABB achieved a remarkable development in providing real estate and residential financing solutions during the first half of 2021 compared to the same period last year.
As a leading financial institution, we are primarily interested in playing an active role in the development process of the Kingdom in various fields.
Bashaar Al-Qunaibit, Deputy Managing Director of Retail Banking and Wealth Management at SABB
Bashaar Al-Qunaibit, deputy managing director of retail banking and wealth management at SABB, said: “We are honored to receive this award as it confirms SABB’s continuous contributions to initiatives and programs aimed at developing the real estate and residential sector in line with the Kingdom’s Vision 2030.”
He added: “As a leading financial institution, we are primarily interested in playing an active role in the development process of the Kingdom in various fields, while also focusing on developing banking products that meet the highest standards.”
SABB offers a range of real estate financing solutions such as Murabaha financing, leasing, off-plan sales, and self-construction, in addition to the Sakani program.
Some 144,000 houses will be distributed through 101 Sakani projects throughout the Kingdom.
The scheme runs in partnership with the private sector and channels financing options to people who can construct their own homes.