Announcement by First Avenue for Real Estate Development Company Regarding the Signing of a Shariah-Compliant Banking Facilities Agreement with The Saudi Awwal Bank (SAB).

AI Summary

First Avenue for Real Estate Development Company signed a SAR 100 million Shariah-compliant banking facilities agreement with The Saudi Awwal Bank (SAB).
The financing has a four-year duration and is intended to support the company’s expansion strategy and the execution of its real estate projects.
Security for the facility includes promissory notes, mortgages over the financed land or projects, and the assignment of project proceeds to the bank.
There are no related parties involved in this agreement.

Element List	Explanation
Introduction	First Avenue for Real Estate Development Company is pleased to announce to its valued shareholders that it has signed a Shariah-compliant banking facilities agreement with The Saudi Awwal Bank (SAB) to support its expansion plans and the execution of its real estate projects.
Date of obtaining the funding	2026-07-16 Corresponding to 1448-02-02
Financing entity	The Saudi Awwal Bank (SAB).
Financing amount.	SAR 100 million
Financing duration.	Four (4) years.
Guarantees offered for the financing	1- Promissory notes equal to the amount of the banking facilities, together with a mortgage over the land or the project being financed in favor of the Bank. 2- Assignment of the proceeds of the financed project in favor of the Bank.
Financing objective	Supporting the Company's expansion strategy across its real estate projects while strengthening its capital structure.
Related Parties	None