Bank Saudi Fransi (BSF) Signs a SAR 6 Billion Financing Agreement to Support the Development of Wadi Safar
12/Mar/2025
Riyadh, March 12, 2025 – Bank Saudi Fransi (BSF) has signed a financing agreement worth SAR 6 billion (USD 1.6 billion) with a Diriyah Company to support in developing Wadi Safar, one of the prominent cultural and tourism destinations within the Diriyah project. The project aims to attract more than 50 million visits by 2030 as part of its ongoing commitment to supporting major development projects.
The signing ceremony was attended by Mr. Bader AlSalloom, CEO of BSF along with Mr. Jerry Inzerillo, GCEO of Diriyah Company During the event, both parties emphasized the importance of this partnership in achieving sustainable development and enhancing Diriyah’s position as a key cultural and historical hub.
Wadi Safar is one of the three main projects under Diriyah Company’s development plan. It covers an area of approximately 62 square kilometers and is set to become a luxurious residential community with world-class amenities, including high-end hospitality facilities, recreational and sports venues, and advanced commercial and retail spaces. Additionally, it will feature premium real estate units tailored to meet the needs of investors and visitors in the Kingdom.
The Diriyah development project serves as the birthplace of the First Saudi State and a comprehensive urban development initiative integrating residential and commercial units. It aims to create approximately 178,000 job opportunities and attract 50 million annual visits by 2030. Moreover, the project is expected to contribute SAR 18.6 billion (USD 5 billion) to the Kingdom’s GDP upon completion.
This agreement is part of BSF’s efforts to support major development projects that enhance infrastructure, promote tourism, and drive economic growth in Saudi Arabia. It also aligns with Vision 2030, reflecting the bank’s strategic commitment to fostering sustainable development, attracting investments, and supporting the Kingdom’s economic transformation.
About BSF:
BSF, a Joint Stock Company established by Royal Decree No. M/23 dated June 1977, is one of the leading banks in Saudi Arabia. It has its head office in Riyadh and regional offices in Jeddah, Al-Riyadh and Al-Khobar. Through its 85 branches/self-service centers, 520 ATMs and over 28,000 points of sale, BSF is committed to providing innovative and excellent services to its clients. BSF offers a wide range of financial services in Corporate Banking and Retail Banking. The Bank also provides investment banking, asset management and investment funds services, in addition to brokerage services through BSF Capital.
BSF’s main focus is to provide a new standard in customer experience that stands out for its simplicity and transparency further empowering its customers while offering them personalized advice. BSF's business model is customer-oriented, with the goal of being a leader in customer satisfaction on a national and regional levels.
The signing ceremony was attended by Mr. Bader AlSalloom, CEO of BSF along with Mr. Jerry Inzerillo, GCEO of Diriyah Company During the event, both parties emphasized the importance of this partnership in achieving sustainable development and enhancing Diriyah’s position as a key cultural and historical hub.
Wadi Safar is one of the three main projects under Diriyah Company’s development plan. It covers an area of approximately 62 square kilometers and is set to become a luxurious residential community with world-class amenities, including high-end hospitality facilities, recreational and sports venues, and advanced commercial and retail spaces. Additionally, it will feature premium real estate units tailored to meet the needs of investors and visitors in the Kingdom.
The Diriyah development project serves as the birthplace of the First Saudi State and a comprehensive urban development initiative integrating residential and commercial units. It aims to create approximately 178,000 job opportunities and attract 50 million annual visits by 2030. Moreover, the project is expected to contribute SAR 18.6 billion (USD 5 billion) to the Kingdom’s GDP upon completion.
This agreement is part of BSF’s efforts to support major development projects that enhance infrastructure, promote tourism, and drive economic growth in Saudi Arabia. It also aligns with Vision 2030, reflecting the bank’s strategic commitment to fostering sustainable development, attracting investments, and supporting the Kingdom’s economic transformation.
About BSF:
BSF, a Joint Stock Company established by Royal Decree No. M/23 dated June 1977, is one of the leading banks in Saudi Arabia. It has its head office in Riyadh and regional offices in Jeddah, Al-Riyadh and Al-Khobar. Through its 85 branches/self-service centers, 520 ATMs and over 28,000 points of sale, BSF is committed to providing innovative and excellent services to its clients. BSF offers a wide range of financial services in Corporate Banking and Retail Banking. The Bank also provides investment banking, asset management and investment funds services, in addition to brokerage services through BSF Capital.
BSF’s main focus is to provide a new standard in customer experience that stands out for its simplicity and transparency further empowering its customers while offering them personalized advice. BSF's business model is customer-oriented, with the goal of being a leader in customer satisfaction on a national and regional levels.
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