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Asas Makeen Renews Credit Facility with Bank Al-Jazira

MT Newswires·01/02/2026 00:03:46
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12:03 AM EST, 01/02/2026 (MT Newswires) -- Asas Makeen Real Estate Development and Investment (SASE:9640) renewed its Sharia-compliant credit facility deal with Bank Al-Jazira. The 200 million-Saudi-riyal financing is valid for one year and will be used to buy land, real estate, or the development and construction of sales and rental projects, the real estate developer said Thursday. The renewable facility is backed by a debt guarantee, promissory note, and mortgage of real estate deeds.