ARAC- Taiba secures SAR 250m credit to build a 5 stars hotel in Al Khobar

26/06/2013 Tadawul

 “ARAC Group, 86.9% owned by Taiba Holding company, signed a Sharia compliant credit agreement with Riyad Bank for SAR 250m.” stated by Taiba on Tadawul today.

 

The agreement has a term of 10 years including a grace period of 3 years.

The amount is to be used in financing the project of establishing a 5 stars hotel in Al Khobar.

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