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Al-Andalus Real Estate secures 35M Riyal Credit
Alandalus Real Estate Company announced that it has signed a short-term financing facility agreement worth 35 million Saudi riyals with the National Commercial Bank, to support working capital and fund the company's ongoing projects. The repayment of the financing, which is in the form of murabaha (cost-plus financing), will commence one year from the date of signing the agreement. Guarantees provided include a promissory note and a waiver of cash dividends equivalent to the value of the facilities. These facilities aim to enhance liquidity and address the company's operational and construction needs in the coming period.
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