RIYADH: Saudi-listed Amlak International for Real Estate Finance has renewed its SR665 million ($177 million) credit facility agreement with the Saudi Investment Bank, known as SAIB.
Specialized in providing Shariah-compliant real estate financing, the company will use the funds in “facilitating the company’s business and increasing its ability to finance its clients,” it said in a statement to the Saudi bourse.
As per the agreement, the financing duration shall be one year.
Amlak, which is regulated by the Saudi central bank, offers a range of financing solutions to institutions, high net worth individuals, and real estate developers.
Saudi Amlak renews $177m loan from SAIB to bolster real estate finance
Source: Viral Real Articles
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