https://arab.news/y2qsw
Riyadh-based mortgage lender Bidaya Home Finance has announced its new commercial real estate finance product, which can be obtained through its digital platform.
Bidaya’s new finance product constitutes an investment opportunity for a new segment of clients who want to diversify their investments to include residential and commercial buildings and lands in the Kingdom’s different regions.
The product has been announced within the framework of the company’s digital system and through its electronic site, where all the company’s products can be obtained through three simple and easy steps.
Commercial real estate finance is now considered one of the most in-demand types of finances as it offers diversified options to clients to help them make bigger revenues from ordinary residential buildings.
Bidaya’s acting CEO Faisal bin Abdul Rahman Al-Nasser expressed his happiness over the launch of the new product, which he said “indicates the company’s keenness to diversify real estate products in general and expand the base of its clients through the provision of diversified investment opportunities to increase competition in the Saudi market as well as the company’s share of profits.”
Al-Nasser said the product represents one of the main pillars of Saudi Vision 2030 as it facilitates investment opportunities in the Kingdom and the financing of housing projects and digital real estate, in line with the goals of the vision.
Bidaya Home Finance is the first mortgage lender in the Saudi market that offers all the digital housing and commercial finance products through its digital platform that serves all segments of clients. Bidaya’s team directly answers all the clients’ inquiries during official working hours through the company’s electronic site and its free phone line. Ever since its establishment in 2015, the company has offered Saudi nationals several home finance plans and a variety of products that are compatible with Shariah principles. The company’s list of shareholders includes a number of established corporations with wide experience in the Kingdom’s financial services sector.
Bidaya is also supported by the Islamic Corporation for the Development of the Private Sector — a member of the Islamic Development Bank Group, the Public Investment Fund — the sovereign wealth fund of Saudi Arabia, in addition to a number of house financing corporations in the Kingdom.