Saudi Arabia .. The share of “His Highness Real Estate” rises 0.19% after signing a credit facilities agreement

The share of His Highness Real Estate Company, which is listed in the parallel Saudi stock market “growth” by 0.19% at the beginning of the Saudi market transactions today, Wednesday, trading at the price of 51.90 riyals per share, after signing a credit facilities agreement.

The trading on the share of His Highness Real Estate at that time came at 151.32 thousand shares with a value of trading 7.92 million riyals.

The highest price for the share at that time was at 52.90 riyals per share during the session, while the lowest price for the share was at 51.80 riyals per share.

The share of the share of His Highness the Real Estate Company increased after announcing the signing of a credit facilities agreement (compatible with Islamic law) with the first Saudi Bank, at a value of 130 million riyals.

The company explained that this agreement aims to issue a bank guarantee letter in accordance with the contract between it and Jubail and Yanbu for industrial cities services (Jbein).

She added that the financing was obtained on February 4, 2025, and it will last for 48 months, noting that the guarantees submitted include a waiver of the project dues and a bond of order, and the company confirmed that there are no related parties in this deal.

In a separate context, the preliminary financial results of His Highness Real Estate showed its record of an increase in its 4% net profit during the third quarter of 2024 compared to the same period in the previous year, while the net profit decreased by 13.4% compared to the previous quarter.

The company explained that the net profit after zakat and tax amounted to about 29.77 million riyals, compared to 28.63 million riyals in the same period last year, while it recorded 34.38 million riyals in the second quarter of the same year.