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الاقتصادية
Saudi Arabia's Al-Ramz secures 500M Riyal credit
Al R symbol Real Estate Company Ltd., a Saudi entity, has secured credit facilities totaling 500 million riyals from Al Rajhi Bank, compliant with Islamic law. These facilities aim to finance property acquisitions and development, as well as support working capital. The credit is divided into 450 million riyals for a five-year term and 50 million riyals for three months. The guarantees include a mortgage with a coverage ratio of 150%, project revenue assignation for the financed properties, and Takaful (Islamic insurance) coverage on the assets. The agreement came into effect on September 10, 2026, with no related parties involved.
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