Riyadh - Mubasher: Asas Makeen Real Estate Development and Investment Company has renewed its Sharia-compliant credit facilities agreement with Al Rajhi Bank at a total value of SAR 350 million, according to a bourse filing.
The company renewed the funding as of 21 June 2026, aiming to support the purchase and development of land plots, the construction of residential real estate projects, and the financing of certain specified projects.
The facilities carry tenors ranging between 6, 24, 36, and 120 months.
Moreover, the agreement includes financing and the issuance of a financial guarantee in favor of the National Housing Company under one of the facilities.
The financing is secured by a promissory note and mortgages over real estate title deeds related to the financed properties.
