| Introduction | Asas Makeen Real Estate Development and Investment Company announces the renewal of its Sharia-compliant credit facilities agreement with Al Rajhi Banking and Investment Corporation (Al Rajhi Bank). This renewal comes within the Company’s plans to enhance its financing capabilities for the purchase and development of land and the construction of residential projects, including financing certain specified projects and issuing a financial guarantee in favor of the National Housing Company. |
| Date of obtaining the funding | 2026-06-21 Corresponding to 1448-01-06 |
| Financing entity | Al Rajhi Banking and Investment Corporation (Al Rajhi Bank). |
| Financing amount. | SAR 350,000,000 |
| Financing duration. | The durations of the facilities vary per facility, ranging between 6, 24, 36, and 120 months, as specified in the agreement. |
| Guarantees offered for the financing | A promissory note and a mortgage over real estate title deeds that include the real estate subject to the financing. |
| Financing objective | Financing the purchase of land and its development and the construction of residential real estate projects, financing certain specified projects, in addition to financing and issuing a financial guarantee in favor of the National Housing Company within one of the facilities. |
| Related Parties | None |
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