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Banan Real Estate Company announces that its subsidiary, Al-Azizah Real Estate Investment and Development Company, has signed credit facilities that comply with Sharia regulations.
19/08/2024
| Element List | Explanation |
|---|---|
| Introduction | Banan Real Estate Company announces that its subsidiary, Al-Azizah Real Estate Investment and Development Company, has signed a credit facility agreement with Riyad Bank, in compliance with Sharia regulations. |
| Date of obtaining the funding | 2024-08-19 Corresponding to 1446-02-15 |
| Financing entity | Riyad Bank |
| Financing amount. | 50 Million Saudi Riyals |
| Financing duration. | Five years |
| Guarantees offered for the financing | Promissory note in addition to the continued mortgage of some previously mortgaged properties |
| Financing objective | Business expansion financing |
| Related Parties | None |
| Additional Information | The credit facility agreement documents are dated 06-08-2024, and the signing of the agreement was completed on Monday 19-08-2024 |
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