Riyadh — Mubasher: Al Ramz Real Estate Company has secured Sharia-compliant credit facilities totaling SAR 500 million from Al Rajhi Bank.

The financing agreement, which became effective on 10 September 2026, is divided into two separate tranches designed to support the company’s strategic expansion and operational needs.

The first tranche, Facility (A), provides SAR 450 million with a duration of five years. The second tranche, Facility (B), provides SAR 50 million for a period of three months.

Al Ramz Real Estate intends to utilize the funds to finance the acquisition and development of real estate assets, supporting its expansion plans, as well as meeting general working capital requirements.

To secure the credit, the company provided a real estate mortgage in favor of the bank with a 150% coverage ratio.

Additional guarantees include the assignment of sales proceeds from the funded projects, the opening of escrow accounts for each project, and a promissory note valued at SAR 531.18 million.

The company also committed to Sharia-compliant Takaful insurance on the mortgaged assets. While the agreement was initially dated 3 August, it officially came into effect on 10 September 2026.