Arriyadh Development repays SAR 450 mln loan from Alinma Bank

13/12/2017 Argaam

 

Arriyadh Development Co. (Arriyadh Development) has completed an early repayment of a SAR 450 million loan it obtained from Alinma Bank in December 2014, the company said in a statement to Tadawul.

 

The developer has fully repaid the loan, including all commissions and fees, the statement said.

 

Financial impact of the payment is expected to reflect on Q4 results.

 

Arriyadh Development had obtained the loan to finance a SAR 847 million land purchase in Riyadh, Argaam previously reported.

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