Unit under construction (off plan)

Unit under construction (off plan)

The features you need to know:

Shariah compliant financing, based on Commodity Murabaha principle

Down payment coverage by REDF

Down payment coverage by REDF up to 5% through Moyassar Program 

Coverage of finance profit based on RDEF support Matrix

REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom Program

Takaful Life Insurance

Free Takaful life coverage against death or permanent disability, God forbid, without any medical test for finance up to SAR 2,500,000

Property Insurance

Free Property Takaful coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income

Payment Base

Project Payment is based on project construction progress which is approved as per developer’s contract

Roshan Group and Talaat Moustafa Group

You can now apply for off-plan property products from Roshan Group and Saudi Arabia Talaat Moustafa Group.

Unit under construction (off plan) is a Murabaha-based home finance product offered by The Saudi Investment Bank in collaboration with the Real Estate Development Fund (REDF) and the Ministry of Housing (MOH), which allows customers to buy the property they want to own from the Ministry of Housing’s (MOH) approved development projects through accredited real estate developers. The product also extends the benefits offered by REDF under Madoom and Moyassar Programs.

Payment period


Finance amount


Please make sure you have the following requirements:


  • For Saudi nationals only
  • Age of Applicant: Minimum age is 21 years and maximum age at maturity is 75 years
  • Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists
  • Employment: Employees of government, semi-government, military and private sectors, and retirees (Bank’s approved list of companies)
  • Service period:
    For Government Sector: No minimum period of service required
    For Semi – Government: 3 months maximum
    For Private Sector: 3 months with current employer
  • Applicant must open a Salary Account with SAIB and assign salary


  • Filled finance application form
  • Introduction letter from employer
  • Account statement of the last 3 months showing last 3 salaries, verified from the previous bank
  •  Copy of the “Employee ID Card” specifying rank/position (to be taken post sighting of the original) – for armed forces, if applicable
  • Salary certificate from employer or last salary slip
  • Copy of the construction Contract between the customer and the developer
  • Developer Quotation addressed to the Bank


For more information and details, please contact our Flexx Call contact center at:


Standard SAIB loan administration fees. (1% of the finance amount up to a maximum SAR 5000) will apply.

This product comes with a complimentary salary account with no minimum balance requirements. The account also offers free cheque-book, mada Debit Card from The Saudi Investment Bank and access to SAIB Flexx Click Internet Banking, Flexx Call contact center and SMS Banking facilities..


  • Approval in principle within 24 hours (subject to complete documentation)
  • Completion of final approval and all related procedures within 12 working days provided all required documents are submitted on time.

An example of information that will be obtained when applying for a product

Property evaluation (SAR) 500,000
LTV % 90
Type of term cost Fixed
APR % 7.40
Finance Tenor (Years) 15
Payment method Monthly deduction from customer's salary
Monthly Installment Amount (SAR) 4,037.18
Early settlement amount 1-2 Years: Total profit amount of the 1st two years After 2 years: profits of the three subsequent installments

*The Annual Percentage Rate (APR) may differ based on the amount and maturity period.

The calculator provides estimates only.
Your Age
20 Years
Property Price
Gross Income
Repayment term
First House
Down Payment
Monthly obligations
For exact figures please contact Flexx Call contact center at 800-124-8000
or visit your nearest SAIB Branch.
All personal financings are subject to credit approval.

Product Risks

To view the Home Finance product risks, click here


Am I required to open an account and assign my salary to avail of this product?

Yes, salary assignment to SAIB is mandatory in order to obtain any of SAIB’s home financing products.

Is the REDF approval mandatory on the property that I want to buy?

Yes, there are specific conditions that must be met.

What is the maximum finance amount?

The maximum finance amount is SAR 7,000,000.

Can I make an early settlement of the finance amount with the Bank?

Yes, you can, provided that you meet the Bank’s terms and conditions (To learn more about these terms, please call us at 800 124 8000).

Is this finance available for expats, too?

No, this product is only for eligible Saudi nationals listed on the REDF’s and Ministry of Housing’s finance lists.

If I am not listed on the REDF’s and Ministry of Housing’s finance lists, can I obtain this product?

No, only those who are listed in REDF’s and Ministry of Housing’s finance lists can get this product. If you are not eligible to get this product, you may apply for SAIB Murabaha Home Finance instead. To learn about Murabaha Home Finance, please click here.

Is this product Shariah-compliant?

Yes, this product is Sharia-compliant and based on Murabaha principle.

What is the maximum finance amount on which I can receive as subsidy from the REDF under (Madoom) program?

The maximum finance amount for subsidy is SAR 500,000.

What is the administration fee amount?

1% of the finance amount up to SAR 5,000 (whichever is lower).

What is the minimum length of service?

Government Sector: 1 month with current employer.
Private Sector: 3 months with current employer.

What is the down payment requirement?

10% for first house or 30% for any additional property.

When shall the title deed get transferred?

MOH shall ensure that the title deed is transferred to the customer (with mortgage to Bank) within 60 days of customer receiving possession of the property from developer.

How can I apply for this finance?

Please click here or contact our Flexx Call contact center at 800 124 8000 .