Logo of Knowledge Economic City which secured a SAR 305 million loan from Riyad Bank
Knowledge Economic City (KEC) secured Shariah-compliant financing of SAR 305 million from Riyad Bank, the company said in a filing to Tadawul today, Aug. 26. 
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The facility will be utilized for the execution of the remaining residential component of the Al-Alya project, with a loan tenure of four years.
The guarantees offered for the financing are land mortgages and promissory notes, the company said, adding that there are no related parties to the deal.
Logo of Knowledge Economic City which secured a SAR 305 million loan from Riyad Bank
Knowledge Economic City (KEC) secured Shariah-compliant financing of SAR 305 million from Riyad Bank, the company said in a filing to Tadawul today, Aug. 26.
For more news on listed companies
The facility will be utilized for the execution of the remaining residential component of the Al-Alya project, with a loan tenure of four years.
The guarantees offered for the financing are land mortgages and promissory notes, the company said, adding that there are no related parties to the deal.
