Al Khozama Management to get SAR 1.3 bln loan from NCB

26/10/2016 Argaam

The National Commercial Bank (NCB) has arranged SAR 1.3 billion in financing for Riyadh-based Al Khozama Management Company, the lender said in a statement seen by Argaam.

 

Al Khozama, which is 5 percent owned by Aseer Trading & Manufacturing Co., is planning to use the funds for its expansion plans, it was reported.

 

The group manages several hotels and real estate properties in Saudi Arabia, including Al Faisaliah Hotel & Spa in Al Khobar, and Bay La Sun Hotel & Marina in King Abdullah Economic City.

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