Emaar The Economic City (Emaar EC) signed on Sept. 22 a SAR 2,000 million Murabaha financing agreement with the Saudi British Bank (SABB).
The loan period extends from Sept. 25, 2014 until Sept. 25, 2021.
The purpose of the loan is to complete residential and infrastructure projects in King Abdullah Economic City.
The company pledges all of its shares in the Port Development Company, totaling 260.5 million shares.