By webadmin, 14 July, 2023

Financing the purchase of residential or commercial lands


 

About the product:

Financing for businesses that want to purchase land for the purpose of commercial or residential development, usage, or leasing.

What distinguishes us:

At Bidaya, we assign every client a dedicated team of experts, who will develop a customized solution adapted to your needs, expedite financing procedures, and provide ongoing support for a simple, seamless experience.

Product advantages:

  • All of our financing products and solutions are Sharia-compliant.
  • Several financing formulas are available, such as Ijara, Murabaha, and Tawarruq, and the formula is determined according to the required financing solution and its purpose
  • The presence of a specialized team to serve each client and fast financing procedures.
  • Possibility of early or partial repayment.
  • Availability of repayment in flexible monthly, quarterly, semi-annual, annual or end-of-term payments, in line with the customer's income or cash flows of the financed project.
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Financing the purchase of residential or commercial lands
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Financing the purchase of residential or commercial lands
Sub title
Find out more about the Ready Units of Product
Thumbnail image
Land Financing
Thumbnail mobile image
Land Financing
Product Type
Corporate
Weight
1
Eligibility
  • Financing tenure up to 30 years
  • minimum age for financing 20 years
  • Rate start form 2.05% flat rate
  • No salary assignment
  • Monthly income up to 65%
  • Applicable for REDF Benificiaries

Bidaya Calculators

This Assessment of Eligibility does not constitute and Offer, Financing Approval or Commitment by Bidaya Finance to the applicant. Price declaration examples and calculator results are used for demonstration purposes. Prices may vary for some customers depending on related factors such as credit record etc.

  • The maximum finance amount for first home buyers is 90% of the property’s value.
  • For second home buyers and above, the maximum finance amount is 85% of the property’s value.
  • For DPG beneficiaries, the maximum finance amount is equivalent of 95% of the property’s value.
  • In the case of (Early Settlement), the total early settlement amount reflects the profits of the first 3 months after the end of the second year based on the contract’s start date (months 25,26,27).
  • Prices are reviewed on a monthly bases (last update was on March,2024).
  • The Installment/Rental Installment consists of (Principle + Profit).
Attachments
Product Prices Examples June 2023_2_1.pdf (102.33 KB)