AlNaqool’s subsidiary fully repays SAR 10M real estate development sukuk

Logo of Mohammed Hasan AlNaqool Sons Co.

Mohammed Hasan AlNaqool Sons Co.’s subsidiary, Deer Real Estate Co., paid the full value of the SAR-denominated real estate development sukuk within the Murabaha Sukuk Program.

The sukuk offering was carried out via Sukuk Capital's website, the company said in a statement to Tadawul.

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The total value of the repaid sukuk is SAR 10 million, which were issued on Jan. 1, 2024, and were repaid today, Sept. 30.

AlNaqool also indicated that the repayment was financed from the company's own resources.

The move will not have a material impact other than the decrease in financial liabilities that will appear in the financial statements for the relevant period, said the company, affirming its commitment to disclosing any material future developments in accordance with relevant regulations and instructions.

According to Argaam’s data, AlNaqool announced, in December 2023, its subsidiary Deer Real Estate’s plan to issue SAR-denominated real estate development sukuk worth SAR 10 million as part of the Murabaha Sukuk Program.