Wednesday, 19 January 2022

Banan Signs Credit Facility Agreement with Riyad Bank for SR32.5

Banan Real Estate Company announced on Tuesday that the Company has signed an agreement with Riyad Bank to provide credit facilities in compliance with Shariah Regulations and the financing value of the bank facilities is SR32,500,000.

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Guarantees offered for the financing mortgage are 2 buildings owned by the Company. In addition to a promissory note of SR32,500,000.

Financing objective is to finance the expansion of real estate investment and there are no related parties on this agreement.

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