On May 11, 2026, First Avenue for Real Estate Development Company announced the renewal of its Shariah-compliant financing facilities agreement with Al Rajhi Bank, obtained on May 10, 2026. The financing facility amounts to SAR 200 million with an eight-year term, including a two-year grace period. The financing is secured by promissory notes equivalent to the facility value and a mortgage over the financed property, and will be used to finance the acquisition and development of the company's real estate projects as part of its expansion strategy.

Original announcement:

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