Alandalus Property Co.headquarters
Alandalus Property Co. obtained short-term Shariah-compliant financing facilities from Saudi National Bank (SNB) under a Tawarruq structure, with a total value of SAR 35 million. 
According to a statement to Tadawul, the facilities were obtained on Sept. 16, with a one-year tenor starting from the date of signing the financing agreement.
The company said the facilities will be used to support working capital requirements and finance its ongoing projects. The guarantees provided against the facilities include an assignment of cash dividends up to the value of the banking facilities, in addition to a promissory note.
There are no related parties to the deal, the company noted.
Alandalus Property Co.headquarters
Alandalus Property Co. obtained short-term Shariah-compliant financing facilities from Saudi National Bank (SNB) under a Tawarruq structure, with a total value of SAR 35 million.
According to a statement to Tadawul, the facilities were obtained on Sept. 16, with a one-year tenor starting from the date of signing the financing agreement.
The company said the facilities will be used to support working capital requirements and finance its ongoing projects. The guarantees provided against the facilities include an assignment of cash dividends up to the value of the banking facilities, in addition to a promissory note.
There are no related parties to the deal, the company noted.
