Al Majdiah said the new financing agreement aims to strengthen its financial position and support expansion
Dar Al Majed Real Estate Co. (Al Majdiah) signed, on Jan. 15, a Shariah-compliant banking facilities agreement worth SAR 500 million with Alinma Bank. 
In a statement to Tadawul,the developer said the agreement aims to strengthen its financial positionand support the expansion of its real estate development portfolio to meet itssustainable growth objectives.
The financing tenure extends up to 10 years, including a three-year grace period, the statement added, indicating that the amount is covered by a promissory note.
There are no related parties in the deal, the statement noted.
Al Majdiah said the new financing agreement aims to strengthen its financial position and support expansion
Dar Al Majed Real Estate Co. (Al Majdiah) signed, on Jan. 15, a Shariah-compliant banking facilities agreement worth SAR 500 million with Alinma Bank.
In a statement to Tadawul,the developer said the agreement aims to strengthen its financial positionand support the expansion of its real estate development portfolio to meet itssustainable growth objectives.
The financing tenure extends up to 10 years, including a three-year grace period, the statement added, indicating that the amount is covered by a promissory note.
There are no related parties in the deal, the statement noted.
