Arabian Centres, a subsidiary of Fawaz Alhokair Group, signed a murabaha and ijarah financing agreement worth SAR 7.21 billion with Samba Financial Group - the lead manager and coordinator -as well as National Commercial Bank (NCB), Al Rajhi Bank, and Arab National Bank.

 

The first tranche of these facilities was used to refinance outstanding debts, the company said in a statement.

 

The second tranche will be used in setting up various malls across the Kingdom.

 

Arabian Centres is a closed joint stock company that specializes in mall management, tenant relations and leasing, Argaam earlier reported.

 

Established in 2002, the company operates in 19 malls across the Kingdom.

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