Emaar EC secures SAR 1.25 bln Murabaha from Alinma Bank

03/06/2015 Argaam

Emaar the Economic City (Emaar EC) has signed on Wednesday a Murabaha deal worth SAR 1.25 billion with Alinma Bank to develop the industrial valley district in King Abdullah Economic City (KAEC), the company said in a statement to Tadawul.

 

The loan period extends from June 3, 2015 to May 31, 2023.

 

Emaar EC said it has offered some of its mortgaged lands at KAEC as guarantee for the loan.

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