Riyad Bank pens SAR 3 bln deal with NEOM to fund Sindalah project

The signing of the agreement

Riyad Bank signed a partnership agreement with NEOM, to finance the Sindalah Island development project, at a total value of SAR 3 billion.
 

This is the first-of-its-kind agreement at the level of Saudi banks, the lender tweeted today, May 14.
 

In December 2022, Crown Prince Mohammed bin Salman announced the development of Sindalah, the first luxury island destination in NEOM, according to data available with Argaam.
 

Sindalah is expected to start welcoming guests in early 2024.

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