Real Estate Developer 'View' Secures $4.75M Al Rajhi Bank Loan for Riyadh Project
By Staff Writer 25 October 2024
%2Fuploads%2Fpr%2520articles%2F2024%2F10%2F25_7view.jpg&w=3840&q=75)
Ahmed Al Harbi
View United Real Estate Development Co. has entered a SAR 17.83 million (USD 4.75 million) Shariah-compliant financing agreement with Al Rajhi Bank, as reported to Tadawul. The 24-month facility will finance 66% of the cost of a newly acquired land in Riyadh’s Al-Nargis district, supporting the company’s growth strategy in real estate.
To secure the facility, View United has provided a mortgage on the land, a promissory note, and guarantees from Chairman Ahmed Al Harbi and Vice-Chairman Mohammed Al Dawood. No related parties were involved in the agreement.
Source: Argaam
%2Fuploads%2Fsaudi-diriyah%2Fcover.jpg&w=3840&q=75)
