Saudi Home Loans has been helping customers in the Saudi market finance homes under Islamic Sharia since 2007. Saudi Home Loans offers innovative services backed by a team of experienced leaders, including Sheikh Abdullatif Al Shelash, who sits on the board of the real estate finance company. Abdullatif Al Shelash is one of several board members with an impressive financial background.
Here are five notable accomplishments Saudi Home Loans has recently achieved.
1. Sheikh Abdullatif Al Shelash says Saudi Homes Loans is one of the first mortgage companies established in Saudi Arabia
“It was also among the first bank and finance companies that was also providing a complete solution,” Abdullatif Al Shelash says. “When it started in 2007, it was totally new.”
Abdullatif Al Shelash says he’s been highly involved in the collaboration between the private and the public sector in the real estate industry. “I was a member of establishing the company Saudi Home Loans, which we call SHL,” Abdullatif Al Shelash says. “This is a company that was the first company established in Saudi to assist Saudi nationals in buying their home on a mortgage.”
Sheikh Abdullatif Al Shelash says that prior to the creation of Saudi Home Loans, most homes in Saudi Arabia were purchased outright, which meant years of saving; many Saudis had to live at home with their parents for long periods of time. Saudi Home Loans offers a variety of mortgage products for different needs and budgets.
2. 2017 was a banner year for Saudi Home Loans
In 2017, Saudi Home Loans was awarded the best home finance company in the Kingdom of Saudi Arabia due to its premium customer service and top-notch standards, according to saudihomeloans.com. The brand also received the Banker Middle East Award for Best New Investment Product of 2017 and that same year it took home accolades for Best Home Finance Product Award and Best Real Estate Finance Product Award in the KSA Product Awards.
3. Saudi Home Loans went public this spring, listing 30% of the company’s shares on the Tadawul Stock Exchange
Saudi Home Loans raised $423 million in its IPO on the Saudi Stock Exchange. In an official report released by Saudi Home Loans upon announcing its news about going public, Saudi Home Loans leadership stated, “The announcement launches an ambitious transformation phase and enhances its leading position in the Kingdom’s real estate finance sector, in the context of its unremitting efforts to expand its customer base through a portfolio of investment projects taking advantage of the great development in the investment environments of the real estate sector, in tandem with the wise government directions to secure proper housing for all segments of the Saudi society, and offer several programs and various facilities.”
4. It’s the most profitable enterprise among nonbank mortgage companies, with an annual growth rate of about 40% in net profit over the past few years, according to saudihomeloans.com
Saudi Home Loans is continuing on its growth trajectory. The company’s board of directors say they’re working to keep the company and the management team focused on achieving strategic goals and policies in alignment with the company's vision, mission, and objectives. Board member Abdullatif Al Shelash has an extensive background in real estate development and financial management. ââWhen it comes to the construction industry and the home financing industry,
5. Saudi Home Loans achieved an 80.5% customer satisfaction rate in 2021, according to saudihomeloans.com.
Saudi Home Loans follows a customer-first ethos. The company says its customer service management department is dedicated to comprehensive communication with customers and implementing the latest technology and strategies to assist and support customers.
With a bachelor's degree in facility leadership and supervision from Purdue University, Sheikh Abdullatif Al Shelash is also a member of the board of directors of T'azur Insurance Company in Bahrain. He was also a member of the board of directors of Al-Khobar Investment Bank.
His real estate background includes overseeing some of Saudi Arabia’s first development projects in Riyadh. Now, with Saudi Home Loans, Abdullatif Al Shelash is helping Saudi citizens purchase homes and apartments throughout the Kingdom of Saudi Arabia. For many clients, it’s a first home purchase, and for Abdullatif Al Shelash — who is also a father and family man — the feeling of helping others achieve the dream of acquiring a home never gets old.
During Ramadan three years ago, Saudi Home Loans assisted Saudi families in need to renovate their homes. Saudi Home Loans continues to nurture its social responsibility while strengthening the Saudi community spirit.
Saudi Home Loans has a Twitter account dedicated to its social responsibility initiatives. @Onecommunity_sa retweets messages such as “The journey of change begins with an individual volunteer in support of promoting the concepts of humanity around the world” and encourages volunteers to join the movement. In addition to thanking its volunteers, @Onecommunity_sa shares inspiring messages such as “When you plant happiness in the heart of a human being, even if you are the most powerful person to it, there will come a day who will plant it in your heart.”