Makkah Construction receives SAR 50 mln second tranche of credit facility from Bank Albilad

Makkah Construction and Development Co. received, on Thursday, the second tranche of the Shariah compliant credit facility provided by Bank Albilad, valued at SAR 50 million, the company said in a bourse statement.

The developer will disclose later receiving the final tranche of the credit, the statement added.

In September 2019, Makkah Construction signed a SAR 450 million Shariah compliant, credit facility agreement with Bank Albilad, according to data compiled by Argaam.

The first tranche was valued at SAR 50 million.