Thakher Development Company, the master developer of the upcoming Thakher Makkah project, has signed an MoU with Banque Saudi Fransi, under which the company’s customers can avail a range of different financing solutions, including off-plan financing. The move is in line with Thaker’s constant efforts to fulfill its customers’ needs and aspirations by delivering optimal solutions, services and products.
The MoU was signed by Karim Hashem, vice president for finance and investment at Thakher, and Attaf Faiz Ramadan, regional branch network manager at Banque Saudi Fransi.
“We are proud of this cooperation with Banque Saudi Fransi that shows and asserts confidence in the development work carried out by Thakher,” said Hashem.
He added: “It also comes in the context of the partnerships that Thakher has with financing agencies and other companies to provide the best options and products for its customers and to achieve best results in line with Saudi Vision 2030.”
Meanwhile, expressing his pleasure over the signing of the MoU with Thakher, Ramadan said: “The MoU comes as part of Banque Saudi Fransi’s efforts and keenness to strengthen the economy and provide various financing solutions that suit all customers’ needs, as well as to support and develop the real estate sector to achieve the objectives of Vision 2030.”
Thakher Makkah supports the ambitious vision of Saudi Arabia, which aims to host 30 million Umrah performers and 6 million pilgrims by 2030.
The project spans an area of more than 320,000 square meters. Upon completion, it will include around 100 land plots for hospitality, residential, commercial, and service-related purposes. Residential and hotel apartment units will be available in various categories, and the units will also be available for ownership.
Among the international hotels that will open in Thakher Makkah are Radisson Hotel, Park Inn by Radisson, and Novotel Hotel, which will be the largest in the world in terms of the number of rooms.
The second phase of Thakher Makkah is expected to be completed by 2024.
Thakher Development Company aims to change the real estate development scene in Makkah. The company’s vision is to contribute to the sustainable development of Makkah and to become the preferred destination for visitors to the holy city.
The Thakher Makkah project will provide 15,000 direct jobs and 18,000 indirect jobs, while the total value of the project is estimated to be SR26 billion ($6.93 million).