Alandalus Property Co. Announces obtaining a Long-term Tawaruq financing in-line compliance with Islamic regulations from Alawwal(SAB)Bank, in value of 48 million Saudi riyals.

AI Summary

Alandalus Property Co. secured 48 million SAR in long-term, Sharia-compliant Tawaruq financing from Alawwal SAB Bank on July 2, 2026.
The financing has an 8-year duration and is intended to fund the purchase of land and the development of an educational facility for leasing purposes.
The facility is secured by a promissory note, a mortgage over the property, and the assignment of project revenues.
This move aligns with the company’s 2026–2030 strategy to diversify its investment portfolio into the educational facilities sector.

Element List	Explanation
Introduction	As part of the implementation of the Company's strategy announced for the period 2026–2030, which aims to diversify its investment portfolio and expand into the educational facilities sector Alandalus Property Co. Announces obtaining a Long-term Tawaruq financing in-line compliance with Islamic regulations from Alawwal SAB Bank, in value of 48 million Saudi riyals.
Date of obtaining the funding	2026-07-02 Corresponding to 1448-01-17
Financing entity	Saudi Alawwal Bank (SAB)
Financing amount.	48,000,000 Saudi riyals.
Financing duration.	8 years starting from use the Facility.
Guarantees offered for the financing	Promissory Note, Mortgage over the Property, and Assignment of Project Revenues.
Financing objective	To finance the purchase of land for an educational facility and its development for leasing purposes.
Related Parties	Not Exist.