KEC said the financing is secured by land mortgages and promissory notes
Knowledge Economic City (KEC) obtained a SAR 150 million Shariah-compliant financing facility from Riyad Bank, according to the project need. 
In a statement to Tadawul, the company said the facility will be used to finance construction works for Clusters 1 and 2 of Phase 1 of the Islamic World District (IWD) project.
KEC said the one-year facility is backed by land mortgages and promissory notes, adding that no related parties were involved in the transaction.
KEC said the financing is secured by land mortgages and promissory notes
Knowledge Economic City (KEC) obtained a SAR 150 million Shariah-compliant financing facility from Riyad Bank, according to the project need.
In a statement to Tadawul, the company said the facility will be used to finance construction works for Clusters 1 and 2 of Phase 1 of the Islamic World District (IWD) project.
KEC said the one-year facility is backed by land mortgages and promissory notes, adding that no related parties were involved in the transaction.
