On July 19, 2026, First Avenue for Real Estate Development Company announced the signing of a Shariah-compliant banking facilities agreement with The Saudi Awwal Bank (SAB), dated July 16, 2026. The facility amounts to SAR 100 million with a tenure of four years, secured by promissory notes, a mortgage over the land or financed project, and an assignment of project proceeds in favor of the Bank. The financing aims to support the Company's expansion strategy across its real estate projects while strengthening its capital structure.

Original announcement:

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