Riyadh – Mubasher: Saudi Real Estate Company for Infrastructure (Binyah), a subsidiary of Saudi Real Estate Company (Al Akaria), inked a SAR 550 million Shariah-compliant credit facilities agreement with Alinma Bank.
The one-year renewable agreement is guaranteed by a promissory note and subject to the terms and conditions of the contract, according to a bourse filing.
It aims to support the operational activities of projects and enhance the company’s credit capacity to finance future projects.
Under the company’s agreement last November, Binyah will execute the early works for the Expo 2030 Riyadh project.
