Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Banking & Finance

ADNOC shifts OMV stake to XRG

XRG is ADNOC's wholly-owned international investment company.

SIB H1 net profit $189m

The bank's total assets increased by $1.49 billion.

TSMC’s H1 revenue up 40 percent

Robust demand for AI technology behind the surge.

‘Wadeem’ sold out for $1.49bn

This is the highest Abu Dhabi real-estate release to date.

Tesla Q2 sales down 13.5%

Shares rally after the disclosure, better than some forecasts.

Saudi Arabia National Housing and Bank Albilad in $533 m deal for infrastructure

By Hilal Mir
June 4, 2021 9:51 am

    • The deal is part of the Saudi Vision 2030 to give more ownership of homes to Saudi families

    •  CEO Bank Albilad Abdullah AlOnaizan  said the bank has assets of $26.66 billion

    Saudi Arabia National Housing Company and Bank Albilad have teamed up to sign a SR 2 billion ($533 million) Murabaha financing scheme in order to finance the infrastructure works for projects in Al-Gwan suburb in Riyadh and Khayala suburb in Jeddah.

    Bank Albilad has assets of SR100 billion ($26.66 billion) CEO Abdullah AlOnaizan was quoted by Arab News as telling CNBC Arabia on Wednesday. The bank has the capacity to deal with any major agreements, especially in real estate financing, he said.

    The projects support the Saudi Vision 2030 goals to increase the percentage of Saudi families owning houses to 70 percent by the end of the decade. NHC is the investment arm of the Saudi Ministry of Municipal, Rural Affairs and Housing.

    [adinserter block="5"]

    Most Read

    Getting vaccinated is ‘the most patriotic thing’ to do

    The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

    UAE’s working mothers get extended maternity leave

    The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

    Saudi Arabia to generate $150 billion in investments from its new transport policy

    The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

    GCC healthcare: Transforming the region and impacting the world

    PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

    New-Age Growth Comes Home to the GCC

    The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

    [adinserter block="4"]