A subsidiary of “Benan” signs a facilities agreement with Riyad Bank worth 84 million riyals
Banan Real Estate Company announced that its subsidiary, Qimam Nashez Real Estate Development Company, has signed a credit facility agreement with Riyad Bank in compliance with Sharia controls.
The company said in a statement on its website "Saudi Arabia trading"The value of the financing is 84 million riyals, including 49 million riyals for a period of 7 years, and 35 million for a period of 8 years.
She added that the guarantees provided in exchange for the financing: a promissory note, in addition to a real estate mortgage.
She indicated that the goal of the facilities: to finance the construction work of the project to build Al-Rahmaniya clubs and Al-Wadi neighborhood clubs leased to Armah Sports Company, in addition to the hotel project in the Al-Wadi neighborhood.
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