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Al-Andalus Real Estate secures 35M SAR credit
Alandalus Real Estate Company announced the signing of a short-term financing agreement worth 35 million Saudi Riyals with the National Commercial Bank, to support working capital and finance existing projects. The financing is based on a Tawarruq arrangement and will last for one year starting from the date of signing. The guarantees include a promissory note and the waiver of cash dividends. This financial support aims to strengthen the company's liquidity and meet its operational and construction needs in the upcoming period.
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