“View” signs a facilities agreement with “Bank Al Bilad” amounting to 33.17 million riyals

View United Real Estate Development Company announced the signing of a banking facilities agreement compatible with the provisions of Islamic Sharia with Bank Albilad amounting to 33.17 million riyals.

The company aims to finance 80% of the cost of purchasing land in the Narjis neighborhood, north of Riyadh, with the aim of implementing its strategic plan to increase its real estate development projects.

The financing period will be 36 months, in exchange for a mortgage guarantee on the property being financed in favor of Bank Al Bilad with a coverage rate of no less than 125% of the total facilities, a promissory note issued by the company for the value of the facilities in favor of the bank, and the guarantees of the Chairman of the Board of Directors, Ahmed Al-Harbi, and the Vice Chairman of the Board of Directors, Mohammed Al. Dawood is a fine and payment guarantee for all facilities.”