Knowledge City secures SAR 150M financing from SAIB

26/03/2025 Argaam
Logo ofKnowledge Economic City Co. (KEC)

Logo of Knowledge Economic City Co. (KEC)

Knowledge Economic City Co. (KEC) secured on March 25 Shariah-compliant financing worth SAR 150 million from The Saudi Investment Bank (SAIB).

 

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The loan term is four and a half years. It will be used to finance working capital to implement the company's strategy, KEC said in a statement to Tadawul.

 

Land plots were mortgaged, and some promissory notes were provided as collateral for the financing.

 

There are no related parties to the agreement.

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