ZAWYA-PROJECTS: Al Akaria unit renews $160mln credit facility to support future projects

ALAKARIA
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ALAKARIA

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Staff Writer

Saudi Real Estate Company (Al Akaria) said its subsidiary, Saudi Real Estate Company for Infrastructure (Binyah), has renewed its Shariah-compliant credit facility with Bank Albilad.

The credit facility is valued at 600 million Saudi riyals ($159.90 million), the company said in a statement to the Saudi stock exchange on Tuesday.

The funding will support Binyah's operational activities and boost its credit capacity to finance future projects.

The agreement is effective as of April 29, 2026 and will expire on September 21, 2026.

The facility is guaranteed by a promissory note, the statement said.

(Editing by Anoop Menon) (anoop.menon@lseg.com)

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