Logo of Banan Real Estate Co.
Banan Real Estate Co. signed today, Nov. 30, a Shariah-compliant credit facility agreement worth SAR 32.5 million with Riyad Bank, the company said in a filing to Tadawul.
The seven-year facility is guaranteed by a promissory note of SAR 32.5 million, in addition to mortgage of a building owned by the company.
The loan will be utilized to finance the expansion of real estate investment.
There are no related parties to the agreement, the statement added.
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