Riyadh, Saudi Arabia - Saudi First Bank, one of the leading banks in the Kingdom of Saudi Arabia, announced the signing of a bilateral financing agreement worth SAR 6.4 billion with Al Bawani, one of the companies in which the Public Investment Fund has a stake and one of the major integrated national entities whose business extends across the construction, technology, facilities management and infrastructure sectors. This agreement embodies “Alawwal’s” ongoing role in enabling infrastructure and strategic development initiatives throughout the Kingdom, and enhances the bank’s diversified portfolio in the corporate sector.

This partnership underscores the shared commitment of Alawwal Bank and Al Bawani to advancing the ambitions of Saudi Vision 2030 by implementing future-oriented development projects that contribute to economic diversification and long-term sustainable growth. The agreement also reflects the bank's ongoing efforts to provide innovative and tailored financing solutions that support private sector growth, enhance economic diversification efforts, and achieve comprehensive sustainable development goals.

This agreement reflects Al Bawani's more than 35-year track record of excellence and leadership, embodying its pivotal role as a fully integrated national entity with operations spanning construction, technology, energy, investment, water, facilities management, and infrastructure. This partnership also reflects the group's unwavering commitment to supporting the Kingdom's development and progress by combining accumulated local expertise with international standards, thus reinforcing its position as a trusted partner in executing iconic projects that shape the nation's future.

Commenting on the agreement, Yasser Al-Barrak, CEO of Corporate and Institutional Banking at Alawwal, stated: “This agreement demonstrates Alawwal’s ongoing commitment to financing strategic projects that contribute to achieving the Kingdom’s long-term economic ambitions. As infrastructure and development activity accelerates across various regions, we remain committed to empowering vital sectors through integrated banking solutions and strong partnerships with our clients. Al-Bawani’s proven track record highlights its ability to execute major projects, making it a valuable partner in supporting the next phase of the national transformation.”

Yasser Al-Furaih, General Manager of Large and Medium Enterprises at Alawwal, stated: “This landmark financing agreement embodies Alawwal’s strong confidence in the Kingdom’s infrastructure sector and in Al-Bawani’s efficiency and ability to execute projects according to a long-term strategic vision. Through this partnership, the bank continues its commitment to providing quality financing solutions that contribute to supporting projects aligned with the objectives of Saudi Vision 2030, and consolidates its position as a key banking partner for development and strategic projects in the Kingdom.”

For his part, Eng. Fakhr Al Shawaf, CEO of Al Bawani, added: “This financing embodies Alawwal Bank’s unwavering confidence in our ability to execute our projects and fulfill our development commitments. It also reflects the strength of the Saudi banking sector and its ability to empower national companies to achieve the Kingdom’s Vision 2030. This strategic partnership demonstrates the strength and confidence of Saudi banks in the Kingdom’s economy and its sustainability to achieve its objectives. We continue to expand our business across the energy, investment, construction, technology, infrastructure, oil and gas pipelines, and facilities management sectors, solidifying our role as a genuine national partner in building the future of the nation.”

For his part, Professor Darrar Awais, Chief Financial Officer of Al Bawani, stated: “This financing reflects Al Awal’s confidence in the strength of the Group’s financial position and enhances the Group’s ability to support its strategic plan in the coming period, which effectively contributes to achieving sustainable returns in the targeted key growth sectors .”

Through its extensive financing capabilities and close partnerships with the public and private sectors, the bank continues to play a pivotal role in enabling major projects and supporting the economic landscape in the Kingdom.

Regarding the first :

Saudi First Bank is one of the largest banks in the Kingdom and its history in Saudi Arabia extends back more than 90 years. During this period, it has been an active partner in supporting the economic growth and social development of the Kingdom .

Alawwal is one of the leading international banks for companies and institutions in the Kingdom, offering a range of best-in-class wealth management and personal banking services. Alawwal is also a leader in the Kingdom and the region in trade finance, foreign exchange, equities, wholesale debt banking, and innovation in digital services and environmental, social, and governance (ESG) practices, paving the way for our transformation and excellence in the banking sector .

The first offers integrated financial and banking services, including corporate banking, investment, private banking, and treasury services .

Alawwal Bank's paid-up capital is SAR 20.5 billion, following its legal merger with Alawwal Bank on March 14, 2021, when it was legally known as the Saudi British Bank (SABB). Alawwal is a licensed financial institution operating under the supervision and control of the Saudi Central Bank and a partner in the HSBC Group .

About Al Bawani Holding

Founded in 1991 in Saudi Arabia, Al Bawani has grown over three decades from a leading construction company into a diversified, integrated national group. Today, Al Bawani Holding brings together a network of specialized subsidiaries working in harmony to deliver comprehensive solutions spanning construction and technology to facilities management and infrastructure. Since its inception, Al Bawani has been dedicated to transforming the expertise of its diverse entities into tangible added value, building world-class environments and infrastructure.

The activities of the group’s subsidiaries extend across integrated sectors including: construction and contracting, technology and operation and maintenance solutions, mechanical and electrical engineering, facilities management, as well as infrastructure projects in the water and energy sectors, real estate development and investment in public-private partnership projects.

Al Bawani Holding boasts a broad and diversified portfolio of projects, holding a top-tier rating in the Kingdom, and has received numerous sector awards that reflect its commitment to excellence and quality. The group has successfully completed over 270 projects across the health, education, culture, tourism, and infrastructure sectors, most notably: the Safina entertainment project, the Aramco Stadium, the Diriyah and Qiddiya projects, the Grand Mosque in King Abdullah Economic City, the King Abdullah Center for Oncology and Liver Diseases, the Science Museum, the Digital City project, and others. The group continues to meet and exceed its clients' expectations, supported by a workforce of over 16,000 employees and state-of-the-art technology and equipment, enabling it to deliver best-in-class solutions across various sectors.

Al-Bawani official platforms:

X Platform @albawani / Instagram | @albawani / LinkedIn company/albawani Facebook Albawani/

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