Red Sea International Gets $104 Million Loan for Modular Housing Project

John Pagano, Red Sea Global's Group CEO

Saudi-based modular housing firm Red Sea International has secured a SAR 392.2 million ($104.3 million) Shariah-compliant credit facility from Riyad Bank. The three-year financing will be utilized to construct a staff camp, backed by a promissory note valued at SAR 397.2 million.

Red Sea International specializes in providing prefabricated modular buildings for the real estate and industrial sectors, supporting diverse infrastructure needs.

Source: Zawya