Alandalus said proceeds will be used to finance the acquisition and development of land for an educational facility
Alandalus Property Co. secured SAR 48 million in long-term Shariah-compliant Tawarruq financing from Saudi Awwal Bank (SAB), according to a statement to Tadawul. 
The company said the financing was obtained on July 2, with a tenor of eight years from the date of first use.
The proceeds will be used to finance the acquisition of land designated for an educational facility and its development for leasing purposes.
The company stated that the financing is secured by a promissory note, a mortgage over the property, and an assignment of the project’s proceeds. It added that there are no related parties involved.
Alandalus said the financing supports the execution of its 2026–2030 strategy, which aims to diversify its investment portfolio and expand its presence in the educational facilities sector.
Alandalus said proceeds will be used to finance the acquisition and development of land for an educational facility
Alandalus Property Co. secured SAR 48 million in long-term Shariah-compliant Tawarruq financing from Saudi Awwal Bank (SAB), according to a statement to Tadawul.
The company said the financing was obtained on July 2, with a tenor of eight years from the date of first use.
The proceeds will be used to finance the acquisition of land designated for an educational facility and its development for leasing purposes.
The company stated that the financing is secured by a promissory note, a mortgage over the property, and an assignment of the project’s proceeds. It added that there are no related parties involved.
Alandalus said the financing supports the execution of its 2026–2030 strategy, which aims to diversify its investment portfolio and expand its presence in the educational facilities sector.
