Al-Rmaz in Saudi Arabia secures 500M Riyal credit
Al Rasm Real Estate Company, a Saudi firm, has secured credit facilities amounting to 500 million SAR from Al Rajhi Bank, compliant with Shariah principles. These facilities aim to finance the purchase and development of real estate projects and support working capital. The financing is divided into 450 million SAR for a five-year term and 50 million SAR for three months. Collateral includes a mortgage covering 150%, along with a sale revenue transfer, promissory note, and Takaful (Islamic insurance) on the pledged assets. The agreement became effective on September 10, 2026, and there are no related parties involved.
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