July 18, 2024

BIDAYA launch financing solutions for real estate investments

Facebook
Twitter
LinkedIn
Mahmoud Bin Saleem Dahdoli, CEO of BIDAYA
Mahmoud Bin Saleem Dahdoli, CEO of BIDAYA

BIDAYA Home Finance, Saudi Arabia’s leading non-bank provider of real estate financing products, recently announced the launch of a brand-new portfolio of financing solutions tailored exclusively for corporate customers. Following the company’s ground-breaking work in consumer digital real estate financing, the introduction of corporate products marks the beginning of a new chapter for BIDAYA.

Owing to the Kingdom’s charismatic leadership’s Vision 2030, the real estate sector is experiencing tremendous growth across Saudi Arabia. According to Knight Frank, more than 555,000 additional residential units, over 275,000 hotel rooms, more than 4.3 million square meters of retail space, and over 6.1 million square meters of new office space are expected by 2030. These figures translate into significant investment potential, and BIDAYA’s next-generation digital Financing solutions for businesses make it simpler than ever to secure the funding they need. This prompted Bidaya to introduce corporate products to be a supportive arm for investors in this rapidly growing sector.

Launching with three distinctive programs, BIDAYA’s corporate offerings consist of:

Purchase of Residential and Commercial Land Financing – Available under Murabaha or Ijara contract types, this financing option is perfect for companies seeking to purchase into constructing commercial or residential buildings for commercial purposes, or their own operational needs.

Construction (Development or Completion) of Real Estate Project Financing – Available under Commodity Murabaha (TAWARQ) or Ijara & Istisna contract types, this program is ideal for businesses who already own land and want to build a commercial real estate project. It is also suitable for companies that want to develop facilities for operating purposes.

Buy-and-Lease-Back Financing – Available under the Ijara contract type, this financing solution is intended for companies that own income-generating investment properties and seeks to sell them to BIDAYA and rent them to acquire finance for other commercial purposes, such as investments, expansion, etc.

Eng. Mahmoud Bin Saleem Dahdoli, the acting CEO of BIDAYA, stated: “Having established the benchmark for digital real estate financing for consumers, the introduction of BIDAYA’s new line of corporate real estate financing solutions is a pivotal moment for the company. We are proud to empower the growth opportunities for Saudi businesses, strengthening our contribution to the realization of the ambitious Vision 2030.”

The complete range of corporate products is based on BIDAYA’s powerful and innovative digital platform, which streamlines the entire journey from application to approval and has already simplified financing for tens of thousands of KSA customers of BIDAYA’s home financing programs. Bedaya’s digital platform is characterized by the best levels of protection, confidentiality and conformity to the best quality standards and compatible with cybersecurity instructions under the supervision and control of the Saudi Central Bank.

Source

Also on financing solutions:

Bank Nizwa offers financing solutions to its real estate customers

SCCI, Emirates Development Bank collaborate for financial solutions

National Finance offers financing options in association with Danube Home

Share.

RELATED POSTS

Airstack’s CEO Jason Goldberg
Airstack Raises Over $7M for AI-Backed Web3 Developer Platform
Abdel Hadi Al Sa’di, Chief Executive Officer, BHM Capital.
BHM Capital Financial Services records stronger profits
Mastercard and MDP forge strategic alliance to revolutionize the payment ecosystem in the region
Mastercard joins forces with MDP
  • logo banner warba
  • Mutual Trust Bank Plc
  • Ahli United Bank

LATEST POSTS

The business landscape is going through continuous change, which means that there are constantly new challenges arising in HR. This blog entails on few of the major challenges arising in 2024
Representational Image
ACCA announces the addition of new Emirati members to its Members’ Advisory Committee with a government-led goal of achieving a 10% increase in Emiratisation of the skilled workforce by 2026
CyberKnight announces VAD partnership with Forescout for META. CyberKnight to offer complete asset intelligence and control across IT, OT, and IoT to Forescout.