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Riyadh, Saudi Arabia
Al-Andalus Real Estate Company, listed on the Saudi market, signed a Shariah-compliant credit facility agreement with First Saudi Bank, worth SAR 71.3 million, to finance the acquisition of new land.
The company confirmed that the financing period is one year from the date of use of the facilities, under an agreement concluded on October 13, 2026, according to the short-term securitization formula, according to a statement of the company on "Tadawul" on Wednesday.
The financing period is one year from the date of use of the facilities under an agreement on October 13, 2026
She pointed out that the guarantees provided for financing include a bond for a mortgage, pointing out that the agreement comes within its expansion strategy for the period from 2026 to 2030, with the aim of enhancing its investment portfolio and developing its real estate assets.
The company indicated that it will announce the details of the target land, and the acquisition in a timely manner, in accordance with the relevant regulations and regulations.
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