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Alinma Bank to Provide Financing for Those Wishing toOwn Property atthe Headquarters Business Park in Jeddah

Alinma Bank to Provide Financing for Those Wishing toOwn Property atthe Headquarters Business Park in Jeddah

8 Rajab 1433 H - 26 May 2012 G

Alinma Bank has signed an agreement with Adeem National Reconstruction and Development Co. to provide Shariah-compliant financing solutions to individualswishingto own quality office space at Adeem’s Headquarters Business Park on the Corniche Road in Jeddah.Through the deal, Alinma will offer a number of its flexible real estate financing products that meet the unique needs of property seekers with an interest in ownership of the various units available at the Headquarters Business Park.

 

The agreement was signed on Tuesday,May 29, 2012 at the head office of Alinma Bank in Riyadh byMr. Abdulmohsen Al-Fares, the CEO of Alinma Bank, and Eng. Essam Omar Faqih, amanaging partner at Aldar Private Co. (the projectdeveloper), who signed on behalf of Adeem. Other representatives from both parties were also in attendance.

 

The agreement reflects an important aspect of Alinma Bank’s strategy, namely the support of growth and development of the business sectorby providing financing flexibility related to worthwhile projects such as the Headquarters Business Park.

 

The project hasan estimatedtotal area of 12,000 square meters.Its two office towers are240 meters in height, extending over 52 floors. Both towers (eastern and western) overlook the scenic Jeddah Corniche.Acentral services building and a4800 square meter garden stand between the towers.

 

Alinma Bank offers its fully Shariah-compliant banking services for both retail and corporate partners (clients) through a network of 73 branches for men and ladies. Additionally, the bank serves its partners through a full range of around-the-clock electronic channels such as Alinma Internet (www.alinma.com), Alinma Mobile, Alinma Phone (8001208000) and a kingdom-wide network of more than 470 ATMs.

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