Al Aqeeq co. secures SAR 120m credit from Riyad Bank

30/06/2013 Tadawul

 “Al Aqeeq Real Estate Development company, 89.9% owned by Taiba Holding company, signed a Sharia compliant credit agreement with Riyad Bank for SAR 120m.” stated by Taiba on Tadawul today.

The Tawarruq Sharia compliant credit agreement has 6 years term with 1 year grace period, the company added.

 

The amount is to be used in financing the project of converting Al Aqeeq’s residential and commercial center in Medina to a 5 stars hotel.

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