Jeddah:- Thakher Development, leading developer of Thakher Makkah Project's infrastructure and master plan, 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 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 Mr. Hattan Samman, Deputy CEO of Thakher's Commercial Sector and Mr. Khaled Abu Hassan, Al-Bilad's Head of Retail Assets.

Taking the opportunity, Mr. Hattan said, "We are pleased to collaborate with Bank Al-Bilad, one of the Kingdom's leading banks," underscoring the paramount importance of this cooperation which provides customers with innovative financing solutions. He added that this step is part of the series of partnerships Thakher concludes with financing agencies and others towards providing the best-in-class options and products for its customers to best effects consistent with the programs and initiatives of the Kingdom’s Vision 2030.

Bank Al-Bilad 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 Project supports the Kingdom's ambitious vision which aims to host 30 million Umrah performers and six million pilgrims by 2030. The project area is 320,000 square meters. Upon completion, it will include about 100 hotel, residential, commercial, and service areas. Residential and hotel units of various categories are also available, along with the option of free ownership of units. Among the international hotels located in the project are Radisson and Park Inn, as well as Novotel, the world's largest hotel in terms of the number of rooms. The second phase of Thakher Makkah Project is expected to be completed in 2024.


About Thakher Makkah

Thakher Makkah is one of the largest and most important projects in the Kingdom of Saudi Arabia, developed by Thakher Development Company. The company aims to change the real estate development scene in the Holy City of Makkah. The company's vision is to contribute to the sustainable development of Makkah and to become the preferred destination for visitors in the Holy City. 

Thakher Makkah project will provide 15,000 direct jobs and 18,000 indirect jobs, while the total value of the project is 26 billion Saudi riyals. The project participates in achieving the objectives of Vision 2030 about enhancing the services provided to pilgrims and Umrah performers and enriching their experience, in addition to promoting the real estate and economic development of the city and enabling those wishing to own a unique property within an integrated community with services, a vibrant and safe environment and close to the Grand Mosque

About Bank Al-Bilad

A Saudi Islamic bank established under Royal Decree No. M\48 of 21/09/1425 AH-04\11\2004 AD, with a capital of SR10 billions. It is headquartered in Riyadh. It provides banking services according to Sharia principles pursued in all products and services. It also provides a myriad of banking solutions for many fields, sectors and segments of society. Al-Bilad carries out a large number of initiatives and sustainable programs, falling under its over-73 social responsibility programs.