Real Estate Development Fund

Real Estate Development Fund (REDF)

Based on the Murabaha principle, this is a real estate financing program for customers who meet our credit conditions. This type of funding will be granted to Saudi citizen beneficiaries who have been issued Royal approvals on the available and eligible state loan of 500 thousand Riyals.

Al Rajhi Bank will purchase the property on behalf of the beneficiary customer in full amount to the seller on basis that the Development Fund will pay an amount of 500 thousand Riyals on behalf of the customer (beneficiary) towards the bank as an advance payment of the purchase amount. Following will be an explanation of the program steps.

  • Program Application Steps

    Based on the Murabaha principle, this is a real estate financing program for customers who meet the credit conditions of Al Rajhi Bank. This type of funding will be granted to Saudi citizen beneficiaries who have been issued Royal approvals on the available and eligible state loan of 500 thousand Riyals.

    Al Rajhi Bank will purchase the property on behalf of the beneficiary customer in full amount to the seller on basis that the Development Fund will pay an amount of 500 thousand Riyals on behalf of the customer (beneficiary) towards the bank as an advance payment of the purchase amount. Following will be an explanation of the program steps.

Frequently Asked Questions:
REDF
  • Are the ARB home finance products Shariah compliant?
    Yes. All ARB Home finance products are Shariah compliant and have been designed on the basis of Islamic principles.
  • Can I make an early settlement of the remaining amount?
    Yes, according to the terms of early settlement. You can contact us to find out more about the conditions.
  • What happens if I want to sell the property before the financing is paid off?
    You would need to make an immediate repayment of the principle outstanding amount by way of early settlement and we would transfer the title in your name or to the person you requested.