Mubasher TV
Contact Us Advertising   العربية

Sumou Real Estate secures SAR 130m loan from SAB

Sumou Real Estate secures SAR 130m loan from SAB
Photo Archive
SAB
1060
-3.78% 32.58 -1.28
SUMOU
4323
-3.39% 40.98 -1.44
2P
7204.B
0.00% 0.00 0.00

Riyadh – Mubasher: Sumou Real Estate Company inked a credit facilities agreement with Saudi Awwal Bank (SAB) at an amount of SAR 130 million.

The financing is valid for 48 months starting from 4 February 2025, according to a bourse filing.

The company will use the loan to issue a bank guarantee letter under the contract signed with the Jubail and Yanbu Industrial Cities Services Company (Jabeen) at SAR 1.30 billion.

The agreement covers developing essential and secondary infrastructure works, as well as designing and constructing 1,104 residential units in Yanbu Industrial City.