According to Al-Yaum newspaper, following 4-month of negotiations, the founders of the Real Estate Financing Company in the Eastern Province of Saudi Arabia determined the new company's capital at SR 500 million. Mr. Abdul-Rahman Al-Rashed, Chairman of the Chamber of Commerce and Industry in the Eastern Region, said that this is a close-end company which finances individuals through lending or even through buying real estate assets for them through soft installments.
In addition, it specializes in developing real estate assets in the same region. The chairman added that the subscription to the new company's stocks will be determined through the next few days and it will last at least four months.
