Saudi’s Thaker Development company allies with digital home finance provider BIDAYA

By Arya M Nair, Official Reporter
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Thakher Development Company, a Saudi Arabia-based investment and real estate development company and the master developer of the Thakher Makkah project, has signed an agreement with BIDAYA Home Finance, one of the leading companies in digital home finance.

The agreement, signed by Eng. Abdulaziz bin Saleh Al-Aboudi, CEO of Thakher Development Company, and Eng. Faisal Al Nasser, CEO of Bidaya Home Finance, comes in line with Thakher’s commitment to offer its customers the best solutions, services, and products, such as home finance for those interested in this service.

Thakher Makkah project 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 project’s first phase is almost completed, while the second phase is expected to be delivered in 2024.

Abdulaziz bin Saleh Al-Aboudi
Abdulaziz Al-Aboudi
Thaker Development Company

“We are pleased to collaborate with BIDAYA home financing company, and this partnership is proof of trust and support from our partners in Bidaya in our work progress at Thakher. We, at Thakher, are always keen to offer the best options and products to our customers, and this partnership will achieve that, in addition to facilitating the growth in this market in line with the objectives of Vision 2030”.

Eng. Faisal Al Nasser, said that “We are delighted to sign the agreement with Thakher Development Company, the master developer of one of the most important projects in Makkah. Through this partnership, BIDAYA continues to strengthen its position as one of the pioneer companies in digital home finance in Saudi, by offering flexible digital finance products that aim to satisfy the customer needs.”

Thakher Makkah project aims to host 30 million Umrah performers and six million pilgrims by 203, spanning over an area of 320,000 sqm. Upon completion, it will include about 100 land plots of various uses for hotels, residential, commercial, and service-related areas. Residential and hotel apartment units will be available in various categories, and the units will be also available for ownership. Among the international hotels in the Thakher Makkah are the Radisson Hotel, the Park Inn by Radisson, and the Novotel Hotel, the largest in the world in terms of the room number.

BIDAYA Home Finance is one of Saudi Arabia’s leading companies in the field of digital home financing. One of its main objectives is to enable its customers to become homeowners by offering simple financing solutions via its innovative digital platform, making it a key contributor to the achievement of Saudi Vision 2030.

Related: ADIB rolls out new financing product ‘Small Business Finance’ for SMEs