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Expected new pact between real estate development companies and the ‎banks

Saudi Arabia - November 30, 2015

Some real estate developing companies went to make agreements and leagues with the bank to establish real estate investment fund as a strategy to deal with the undeveloped lands which are owned by real estate developing companies in the urban growth boundaries.

This came as a proactive step before applying the charges system that was approved lately by the board of ministers on the undeveloped lands in the urban growth boundaries, especially that the real estate developing companies has a huge stock of these lands and keeping them increases the financial burden on companies in addition to the charges they will pay when applying the charges system. So the real estate developing companies will ask the help of the banks to set a full vision on how to invest or sell these lands with good prices.

Apart from the bank help, it is expected that the real estate developing companies asks the help of the Ministry of Housing in mortgaging the projects

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