Banan Subsidiary Secures SAR 84M Sharia-Compliant Facilities

BANAN

BANAN

4324.SA

0.00

On June 1, 2026, Banan Real Estate Company announced that its subsidiary, Qimam Noshoz Real Estate Development Company, signed a Sharia-compliant credit facility agreement with Riyad Bank totaling 84 million Saudi Riyals. The financing is structured with 49 million Riyals over 7 years and 35 million Riyals over 8 years, secured by promissory notes and continued mortgage guarantees. The funds will be used to finance construction works for the Al Rahmaniyah gem and Al Wadi District gem projects, which are leased to Armah Sports Company, as well as a hotel project in Al Wadi District.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95736&anCat=1&cs=4324&locale=ar

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

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