Al-Andalus Real Estate secures 71.3M Riyals from Alawal

Al Andalus Real Estate Company signed a credit facilities agreement worth 71.3 million SAR with the Saudi First Bank to finance the purchase of a new land. The loan is for one year, based on a short-term Tawarruq arrangement, with guarantees including a promissory note and a property mortgage. This step aligns with its expansion strategy for 2026-2030 to strengthen its real estate portfolio and grow its assets. The company will announce further details about the land and the acquisition later.

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