Articles > VIEW United Real Estate Development Company Secures Shariah-Compliant Banking Facilities to Expand Real Estate Projects
VIEW United Real Estate Development Company Secures Shariah-Compliant Banking Facilities to Expand Real Estate Projects
By KlickAnalytics Data Insights | May 7, 2026 03:09AM ET
- View United Real Estate Development Company signs agreement with Bank Albilad for financing
- Funding to cover 80% of purchasing land in Al-Quds neighborhood, east of Riyadh
- Implementation part of strategic plan to boost real estate development projects
In an exciting development, View United Real Estate Development Company has officially announced the acquisition of Shariah-compliant banking facilities from Bank Albilad. The agreement aims to finance 80% of the costs associated with the purchase of land in the Al-Quds neighborhood, located in the eastern part of Riyadh. This move is a strategic step forward for the company as it works towards expanding its real estate development projects.
The funding was obtained on May 6, 2026, corresponding to 1447-11-19 in the Islamic calendar. Bank Albilad has provided a financing amount of 12,000,000 units, with a duration of 36 months. To secure the funding, View United Real Estate Development Company has offered guarantees that include pledging the financed property to the bank with a coverage rate of at least 125% of the total facilities, as well as issuing a bond in favor of the bank.
The primary objective of this financing arrangement is to support the company's strategic plan of increasing its real estate development projects. Notably, there are no related parties involved in the agreement, highlighting the transparency and independence of the transaction. This collaboration between View United Real Estate Development Company and Bank Albilad marks a significant milestone in the company's journey towards further growth and success in the real estate sector.
- Funding to cover 80% of purchasing land in Al-Quds neighborhood, east of Riyadh
- Implementation part of strategic plan to boost real estate development projects
In an exciting development, View United Real Estate Development Company has officially announced the acquisition of Shariah-compliant banking facilities from Bank Albilad. The agreement aims to finance 80% of the costs associated with the purchase of land in the Al-Quds neighborhood, located in the eastern part of Riyadh. This move is a strategic step forward for the company as it works towards expanding its real estate development projects.
The funding was obtained on May 6, 2026, corresponding to 1447-11-19 in the Islamic calendar. Bank Albilad has provided a financing amount of 12,000,000 units, with a duration of 36 months. To secure the funding, View United Real Estate Development Company has offered guarantees that include pledging the financed property to the bank with a coverage rate of at least 125% of the total facilities, as well as issuing a bond in favor of the bank.
The primary objective of this financing arrangement is to support the company's strategic plan of increasing its real estate development projects. Notably, there are no related parties involved in the agreement, highlighting the transparency and independence of the transaction. This collaboration between View United Real Estate Development Company and Bank Albilad marks a significant milestone in the company's journey towards further growth and success in the real estate sector.
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