Procurement News Notice |
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| PNN | 87592 |
| Work Detail | The Sharia-compliant credit facilities were obtained from Bank AlJazira Saudi Real Estate Company (Al Akaria) has secured 700 million Saudi riyals ($186.52 million) to finance its developments and expansion plan. A maximum of SAR 100 million will be used to support the company’s working capital, the developer said in a statement to the Saudi stock exchange on Thursday. The new Sharia-compliant credit facilities were obtained from Bank AlJazira and have a duration from one to a maximum of 10 years. The facilities have been guaranteed by a promissory note and real estate mortgage, the statement said. |
| Country | Saudi Arabia , Asia |
| Industry | Real Estate |
| Entry Date | 16 Jan 2025 |
| Source | https://www.zawya.com/en/projects/construction/saudi-listed-al-akaria-secures-187mln-loan-to-support-real-estate-projects-rwoq2mcp |
