Telal Al-Baraka Holding Group Appoints Saudi Kuwait Finance House To Develop, Construct Leading Projects

PRESS RELEASE: Telal Al-Baraka Holding Group has inked a strategic agreement with Saudi Kuwaiti Finance House (SKFH). As per the agreement, the bank will act as a financial advisor for the group to arrange Islamic funding, in addition to executing residential, administrative, industrial, and commercial projects in Mekka, Medina, and Jeddah. 

Chairman of Telal Al-Baraka Holding Group Sheikh Mohammed Fadl and SKFH CEO Tareq Al-Rekheimi inked the deal.Concerning the selection of the bank, Fadl said that this selection was based on financial and technical criteria, which highlighted the bank's name to shoulder such a pivotal role; especially that the bank has experienced, high-caliber employees in the field of corporate funding. 


It is worth noting that the group was established for real estate development, such as constructing towers, hotels, and residential compounds. The group also operates hospitals, airports, and other private and public facilities.

Meanwhile, Al-Rekheimi thanked the group for its deep trust in the bank and its employees, which was underlined by inking such an agreement. He added that the agreement reinforces the bank's status in the gulf as a leading financial consultant. He went on to say that, as per the agreement, the bank will study current and future real estate projects, and prepare necessary recommendations to arrange the financing of real estate projects. He explained that the bank has a strategic overview as a strategic financial partner with its clients.