Thakher Development Company, the master developer of the upcoming Thakher Makkah project, has signed a cooperation agreement with Bank Al-Bilad.
The agreement offers a host of innovative financing solutions as part of the shared efforts between Thakher and Bank Al-Bilad to meet the needs and aspirations of customers by providing them with the best-in-class solutions, services and products, including financing the purchase of housing units through off-plan sales.
The agreement was signed by Hattan Samman, deputy CEO of Thakher’s commercial sector, and Khaled Abu Hassan, Bank Al-Bilad’s head of retail assets.
BACKGROUND
Thakher Makkah supports the ambitious vision of Saudi Arabia. The project spans an area of more than 320,000 square meters, and upon completion, will include around 100 land plots for hospitality, residential, commercial, and service-related purposes.
“We are pleased to collaborate with Bank Al-Bilad, one of the Kingdom’s leading banks,” said Samman, underlining the importance of this cooperation that will provide customers with innovative financing solutions.
He added: “This step is part of the series of partnerships Thakher concludes with financing agencies and others toward providing the best-in-class options and products for its customers, in line with the programs and initiatives of the Kingdom’s Vision 2030.”
In a statement, Bank Al-Bilad said that it is keen to reinforce the national economy’s initiatives, including supporting the real estate sector and providing various financing solutions tailored to all customers, to achieve the goals of Vision 2030.
Thakher Makkah supports the ambitious vision of Saudi Arabia, which aims to host 30 million Umrah performers and 6 million pilgrims by 2030.
The project spans an area of more than 320,000 square meters. Upon completion, it will include around 100 land plots for hospitality, residential, commercial, and service-related purposes. Residential and hotel apartment units will be available in various categories, and the units will also be available for ownership.
Among the international hotels that will open in Thakher Makkah are Radisson Hotel, Park Inn by Radisson, and Novotel Hotel, which will be the largest in the world in terms of the number of rooms.
The second phase of Thakher Makkah is expected to be completed by 2024.
