
Self-Construction (Demolish & Reconstruct)
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
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
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
Your Monthly Salary | You Can Borrow 20 years | You Can Borrow 30 years | You Pay Monthly |
SAR 5,000 | SAR 353,357 | SAR 477,454 | SAR 2,500 |
SAR 8,000 | SAR 621,908 | SAR 840,318 | SAR 4,400 |
SAR 10,000 |
SAR 848,057 |
SAR 1,145,889 |
SAR 6,000 |
SAR 12,000 | SAR 1,060,071 | SAR 1,432,361 | SAR 7,500 |
SAR 15,000 | SAR 1,272,085 | SAR 1,718,833 | SAR 9,000 |
Joint applicants
Your Monthly Salary | Salary of Joint–Applicant | You Can Borrow 20 years | You Can Borrow 30 years | You Pay Monthly |
SAR 5,000 | SAR 3,000 | SAR 621,908 | SAR 840,318 | SAR 4,400 |
SAR 7,500 | SAR 5,000 | SAR 954,064 | SAR 1,289,125 | SAR 6,750 |
SAR 10,000 | SAR 8,000 | SAR 1,272,085 | SAR 1,718,833 | SAR 9,000 |
SAR 12,000 | SAR 10,000 | SAR 1,590,106 | SAR 2,148,541 | SAR 11,250 |
SAR 15,000 | SAR 12,000 | SAR 1,908,127 | SAR 2,578,249 | SAR 13,500 |
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
Your Monthly Payment SAR
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Total Amount Payable SAR
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