November 22, 2021
We would like to inform you that Al Rajhi Bank is participating in the IPO of Tadawul Group starting from 30th of November 2021 To 05.00 pm on 02th of December 2021 , The share price will be announced after the end of the book building period. , The minimum number of offer shares to be applied for by individual investors is 10 shares and their multiples.
The maximum number of offer shares to be applied for by individual investors is 250,000 shares.
The subscription will be available through our electronic channels (Mobile App, Al Mubasher Retail and ATM).
For more details, please refer to the link below:
November 21, 2021
In a move aimed to ensure easy and flexible options for Makkiyoon customers, an agreement was signed between the bank and the company in order to provide facilities and competitive offers, facilitating its customers’ access to adequate housing in the Sama Jeddah project until the end of the current year 2021. In turn, customers of Al Rajhi Bank will receive a 10 thousand riyal cashback.
The Sama Jeddah project is located in a distinct area north of Jeddah. The project consists of 34 residential buildings that contain different models of units and is known for having the lowest population density to suit the needs of the Saudi family.
Sama Jeddah is one of the components of the Khayala residential project, which is being developed by the National Housing Company as a continuation of housing projects with modern designs and integrated services. The project includes commercial centers, security and entertainment services, mosques, green spaces, and health centers.
The Chairman of the Board of Directors of MakkiyoonCompany, Dr. Magdi Muhammad Hariri, expressed his excitement to cooperate with Al-Rajhi Bank, as part of the company's endeavor to strengthen partnership with the banking sector and aid citizens to own their first home through appropriate financing.
General Manager of the Retail Banking Group, Mr. Majid Saleh Al-Rajhi, said, "At Al-Rajhi Bank, we always strive to be proactive in providing easy financing solutions to our customers, and we aspire to continue our fruitful relationship with MakkiyoonCompany and more joint cooperation to achieve the common housing goals."
Also please double check the company name’s spelling: the company was spelled Makkiyoon on its website, but also used “McKeon” and “Makion” in some of their articles so I wasn’t sure which one was correct.
November 15, 2021
Al Rajhi Bank and Al Diyar Al Arabia Real Estate Development Company signed an agreement to enhance cooperation of financing in real estate development projects.
The agreement was signed by Mr. Nayef Al Atawi, CEO of Al Diyar Al Arabia, and Mr. Majid Al Rajhi, General Manager of Retail Banking at Al Rajhi Bank.
The agreement aims to provide real estate products to Al Rajhi Bank’s clients, and to finance residential projects developed by Al Diar Al Arabia, especially with the company’s expansion plans and upcoming projects. Al Diar Al Arabiya is one of the bank’s main company partners in real estate development and provides its clients with real estate financing services.
The bank persists in keeping pace with the government’s plans to expand and provide real estate products in line with the Kingdom’s Vision 2030, which aims to raise the percentage of citizens’ home ownership, and continually works to provide real estate development products.
It is noteworthy that the cooperation between the two sides began during the launch of the "Sakani" program, the start of several housing projects and linking developers and banks through a single system to facilitate financing in response to the high demand for housing products in the Saudi market. This collaboration will now increase with the implementation of Al Diyar Al Arabia’s plans to expand in light of its new projects, which are located across the Kingdom, especially the central and western regions.