SNB and Areeb Capital Sign SAR 5.8 billion Financing Agreement to Support Real Estate Projects

Riyadh, May 11, 2025
The Saudi National Bank SNB and Areeb Capital, a specialized real estate fund management firm, have signed a Sharia-compliant financing agreement valued at SAR 5.8 billion to support Areeb Capital’s real estate projects. This agreement aligns with SNB’s strategic efforts to empower clients and provide optimal economic opportunities aimed at achieving sustainable development.

Mr. Nasser AlFraih, and Eng. Khalid Al Jabri during the signing of the agreement at the bank’s headquarters in Riyadh, in the presence of Mr. Tareq AlSadhan

The agreement was signed at SNB’s headquarters in Riyadh by Mr. Nasser AlFraih, Head of Corporate Business Group at SNB, and Eng. Khalid Al Jabri, CEO of Areeb Capital. The signing ceremony was attended by Mr. Tareq AlSadhan, CEO of SNB, along with several senior executives from both organizations.

Commenting on the agreement, Mr. Nasser AlFraih emphasized, “This agreement reflects SNB’s ongoing commitment to sustainable development in the real estate sector.” He added, “This partnership reaffirms SNB’s leading role in financing developmental projects that contribute to economic growth and social prosperity across the Kingdom, in line with the objectives of Vision 2030.”

A group photo of senior officials from the SNB and Areeb Capital following the signing of the agreement.