Self-Construction (Demolish & Reconstruct)

Customers can buy an old property and then demolish it and rebuild it according to the customer’s desire and based on the available credit limit.

Key Features of the Self - Construction

This concept falls under the umbrella of the self-Construction financing, where the customer can buy an old property and then demolish it and rebuild it according to the customer’s desire and based on the available credit limit.

Client Politics

The client must be a beneficiary of the Real Estate Development Fund or the Ministry of Housing.

Shariah financing

Shariah compliant financing

Repayment

Possibility of early repayment at any time at the request of the customer.

Payment support

Concessional financing

Up to 30 years

Financing period up to 30 years

Quick approvals

Quick and instant approvals

Profit margin

Competitive and fixed profit margin throughout the financing period

For all employers

Available for approved and un-approved employers

Up to 70

Financing up to the age of 70

For retired clients

Possibility of financing retired clients

Flexible

Flexible installment feature

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Terms and Required documents

A statement of salary transfer from employer ( in case financed with salary transfer)
Buying an old property and transferring it in the name of the customer and mortgaging it to the bank
Copy of building permits
Monthly expense declaration form
Valid ID
Salary certificate from employer
Sketch of property location
The client obtains a demolition permit and demolishes the property
Minimum age of 18
The bank will make sure that the property is demolished and start paying the construction payments to the customer.
Construction batches are 4 or 5 batches depending on the customer segment.
Minimum service 3 months
Filling "financing" form

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How much money can you borrow?

The first step for you is to explore the amount you can borrow. Typically, you can borrow up to 53 times your salary to buy a land. The tables will give you closer idea.

Single applicant

Joint applicants

Home Finance Calculator

Please note that this calculator only helps you calculate the approximate financing amount and does not represent the exact amount of financing and payments. For actual approval details, please contact us at 8001241222

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Property Value

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Your Monthly Payment SAR

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How to apply

Discover the Al-Rajhi banking app

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800 124 1222

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Frequently Asked Questions:

Frequently asked questions with concise answers for applications designed for full online workplaces for your tech startups

Self-Construction (Demolish & Reconstruct)

Customers can buy an old property and then demolish it and rebuild it according to the customer’s desire and based on the available credit limit.

Key Features of the Self - Construction

Client Politics

Shariah financing

Repayment

Payment support

Up to 30 years

Quick approvals

Profit margin

For all employers

Up to 70

For retired clients

Flexible

Loading component...

Terms and Required documents

A statement of salary transfer from employer ( in case financed with salary transfer)

Buying an old property and transferring it in the name of the customer and mortgaging it to the bank

Copy of building permits

Monthly expense declaration form

Valid ID

Salary certificate from employer

Sketch of property location

The client obtains a demolition permit and demolishes the property

Minimum age of 18

The bank will make sure that the property is demolished and start paying the construction payments to the customer.

Construction batches are 4 or 5 batches depending on the customer segment.

Minimum service 3 months

Filling "financing" form

Loading component...

How much money can you borrow?

Single applicant

Joint applicants

Home Finance Calculator

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How to apply

Discover the Al-Rajhi banking app

Apply Now

Call Now

Via Branches

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Don’t have an alrajhi bank account?

Frequently Asked Questions:

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Personal

Business

About alrajhi bank

Help & Support

Key Features of the Self - Construction

Client Politics

Shariah financing

Repayment

Payment support

Up to 30 years

Quick approvals

Profit margin

For all employers

Up to 70

For retired clients

Flexible

A statement of salary transfer from employer ( in case financed with salary transfer)

Buying an old property and transferring it in the name of the customer and mortgaging it to the bank

Copy of building permits

Monthly expense declaration form

Valid ID

Salary certificate from employer

Sketch of property location

The client obtains a demolition permit and demolishes the property

Minimum age of 18

The bank will make sure that the property is demolished and start paying the construction payments to the customer.

Construction batches are 4 or 5 batches depending on the customer segment.

Minimum service 3 months

Filling "financing" form

Home Finance Calculator

Apply Now

Call Now

Via Branches

Frequently Asked Questions:

Personal

Personal