What is Land and loan ?

Land and loan product is a product aimed to REDF beneficiaries. The product allow customers to build and construct their house on the land given to then by MOMRA. 



    

 
More about Land and loan

Land and loan product is a product aimed to REDF beneficiaries. The product allow customers to build and construct their house on the land given to then by MOMRA.
Customer have the freedom to choose a contractor/builder to construct his house based on a decided cost per square meter. Based on the decided cost, the bank will deposit the cost of construction payment on multiple tranches based on meeting the payment conditions. An evaluation for each stage is required to make sure that the construction has met the payment conditions. Usually, the construction period takes 2 to 3 years. Customer must provide the necessary governmental requirements to start the construction such as (building permits, building plan. Once the requirements are provided, the customer visits any branch to apply for the loan. The product is Sharia approved and is built on Tawaruq concept.

Download the application and open an account at anb.

    

 
features

Freedom and flexibility to construct the house based on the customer preference.  

Sharia approved product based on Tawaruq concept. 

Easy & flexible repayment plan. 

Finance period up to 25 years. 

Available for REDF beneficiaries. 

Finance amount up to 3 Million SAR.

Requirements:

1.    Salary certificate 
2.    Bank statement for 3 months (if the salary is not assigned to anb)
3.    GOSI certificate private sectors and non approved sectors. 
4.    Building permit
5.    Title deed. 
6.    Insurance form (for client age>65)
7.    MOMRA contract (if the land had a title deed)
8.    Issuing survey report (if the land has no title deed)



 
Frequently Asked Questions

All post MVP to Pre-Series A startups that are currently generating revenue in the MENA region with commitment to expand to KSA. 

All applicants will undergo two rounds of screening by our program team. In the first round, each application will be reviewed for program alignment, existing traction, and founding team. Shortlisted startups will be invited to participate in a series of virtual interviews, and finalists will be notified ahead of a program kickoff. 

Yes, this program will be run primarily in English, however, we can explore providing language support that your startup may need with the help of our in-market country teams. Please note the interview process will be conducted entirely in English.  

The program will be delivered in a hybrid format, with an onboarding week, 10 virtual focus weeks, an investor week and an in-person Demo Day.