Asas Makeen secures SAR 45.1M Murabaha financing from Al Rajhi Bank

Asas Makeen obtains SAR 45.05 million Murabaha financing from Al Rajhi Bank

Asas Makeen Real Estate Development and Investment Co. obtained SAR 45.05 million Shariah-compliant Murabaha financing from Al Rajhi Bank.

 

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The company obtained the three-year credit facility on Aug. 21, 2025, according to a statement to Tadawul.

 

The financing is covered by a mortgage of the land deed in favor of the bank and a personal guarantee and promissory note provided by the founding shareholders Abdulrahman Al-Hadlaq and Anas Al-Hadlaq.

 

The facility will be channeled to financing part of the land purchase cost for development purposes.

 

No related parties are included in the deal, the statement added.

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