image description
image description
Tell A Friend

Archives


  • 04-01-23

    ROSHN inks 1.6B credit facilities agreement with Saudi banks to grow works in Kingdom

    (MENAFN) In an action to grow its investment base, Saudi real estate developer ROSHN inked SR6 billion (USD1.6 billion) value of credit facilities agreements with three of the Nation’s top banks.

    The Public Investment Fund-possessed developer termed the agreements one of the “landmark debt transactions” in the real estate development market as it seeks to grow its works in the nation.

    ROSHN inked deals with the Saudi British Bank, Bank Albilad, in addition to Al Rajhi as part of its plan to possess overseas investments for its ventures.

    With an overall worth of SR2 billion (nearly USD566 million) each, it stated that the additional credit facilities are going to contribute in a fundamental change in the real estate industry on top of a basis for expanding financing.

    “Taken together, these deals are an important milestone for ROSHN. By working with the Kingdom’s dynamic financial sector, we can accelerate the ambitious development program that is bringing our new way of integrated, sustainable living to cities across the Kingdom,” according to ROSHN Group chief executive, David Grover.

    MENAFN04012023000045014228ID1105381795

Follow us

RSS
Terms & Conditions  |  Privacy & Security  |  Contact Us  | Sitemap
© 2024 BBK  |  All Rights Reserved