SNB honored for role in financing housing sector

Majed Al-Ghamdi, CEO of retail banking at SNB, receives the award from Majed Al-Hogail, minister of municipal and rural affairs and housing.
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Updated 19 August 2021
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SNB honored for role in financing housing sector

Majed Al-Hogail, minister of municipal and rural affairs and housing, honored the Saudi National Bank (SNB) with the best financing entity award for residential units under construction, for the second consecutive quarter. The award recognizes the bank’s pioneering role in financing the housing sector and its distinguished financing solutions aimed at enabling citizens to own appropriate housing.
The award was presented during the Sakani Program Forum for the second quarter of 2021, which was held on Aug. 15, in Riyadh. The event was attended by the success partners of the Sakani program, including developers and real estate financiers. Sakani is a government program of the Ministry of Housing to raise the percentage of ownership of the first home for citizens in the Kingdom.
The forum also witnessed the signing of an electronic financing agreement for the beneficiaries of the Sakani program, between SNB and the National Housing Company.
The new agreement enables the beneficiaries of the Sakani program and the Real Estate Development Fund to access the services of the Sakani platform, through the “Aqar AlAhli” application, allowing them to apply for financing electronically, complete all procedures and check the status of the request without the need to visit the branch. The move is in line with joint efforts to facilitate the electronic ownership procedures.
The agreement was signed by Mohammed Al-Bati, CEO of the National Housing Company, and Majed Al-Ghamdi, CEO of retail banking at SNB, in the presence of Al-Hogail.
Al-Bati said this agreement is an extension of the strategic partnership that connects the company with SNB and financing agencies with the aim of facilitating and developing electronic financing. The agreement will be an addition to the available facilities enabling citizens to own their first home, and a contribution to the goals of the Kingdom’s Vision 2030, helping to increase home ownership among citizens, he added.
Al-Ghamdi, meanwhile, expressed his gratitude to Al-Hogail for granting SNB the financing entity award for residential units under construction for the second consecutive time.

He highlighted SNB’s keenness to support the strategic plan of the Ministry of Municipal, Rural Affairs and Housing and the Real Estate Development Fund through its contributions to initiatives and programs related to the development of the real estate and housing sector in line with the Kingdom’s vision.
The agreement is part of the ongoing partnership and joint initiatives with the programs of the Ministry of Municipal, Rural Affairs and Housing aimed at providing multiple financing and housing options, confirming the bank’s leadership in providing innovative electronic solutions. It is noteworthy that the SNB’s housing and real estate financing portfolio witnessed significant growth during the first half of 2021.


iCAUR V27 Saudi media test drive ignites excitement, conquering the Edge of the World!

Updated 29 January 2026
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iCAUR V27 Saudi media test drive ignites excitement, conquering the Edge of the World!

iCAUR held a V27 media test drive event in Riyadh on Jan. 22. 

Twelve local journalists and KOLs took four V27s to Saudi Arabia's famous natural landmark, the Edge of the World. 

They got a hands-on experience of the Boxy Styled SUV’s classic style and advanced technology on challenging real-world roads.

In the morning, journalists and KOLs gathered in downtown Riyadh. 

Through product briefings and interactive sessions, guests got an up-close look at the V27’s core technologies and design philosophy while enjoying a relaxed brunch, introducing iCAUR in detail. 

Afterward, the test drive convoy left the city and drove roughly 200 km northwest to the Edge of the World. 

During the drive, participants praised the V27’s smooth and quiet ride. 

They also appreciated the 15.4-inch 3K HD touchscreen and the smart infotainment system powered by the 8155 chip. 

Voice control for navigation, climate, and music was also highly appreciated.

The test drive destination, the Edge of the World, is located north of the Tuwaik Mountains, which stretches upto 1,000 km. 

It is a steep cliff with a drop of about 300 meters and is one of Saudi Arabia’s most iconic natural wonders. 

The nearly two-hour journey passes vast plains with almost no signal and few clear road signs. The desert is full of faint tire tracks and gullies eroded by rain.

In this environment, the V27’s power and off-road capability are fully showcased. 

As iCAUR’s first mass-production model equipped with Golden REEV (Range-Extended Electric Vehicle), the V27 uses a 1.5T engine dedicated to range extension, with a thermal efficiency of 45.79% and the ability to generate 3.71kWh per liter of fuel. 

This gives the V27 a combined range of over 1,000km, allowing it to handle long distances even in deserts and rugged terrains with limited refueling options. 

The front and rear dual motors deliver a combined 455hp, enabling 0–100km/h acceleration in around 5 seconds, providing consistent and strong power on complex roads. 

Tuned by the world-class Prodrive racing team and paired with the i-AWD (intelligent All-Wheel Drive) system, the V27 stays stable at high speeds. 

It also delivers precise, controlled handling on gravel and uneven surfaces, delivering an exceptional driving feel for a 5-meter vehicle. This balance of performance and efficiency has been repeatedly highlighted by the media and KOLs during the event. 

The first batch of iCAUR V27s has now been officially shipped to six Middle Eastern markets, including Saudi Arabia, the UAE, and Qatar. 

The Middle East will serve as the global debut region for the V27, with launches in the UAE and Bahrain in February, followed by Saudi Arabia in March.

Before the official launch, iCAUR will roll out a series of activities in Saudi Arabia, including mall displays and showroom openings, allowing media and users to get up close with this new energy classic. 

The showrooms will also feature the AiMOGA humanoid robot, powered by Chery Group’s latest AI technology. Stay tuned!