Sumou Real Estate renews SAR 114 mln credit facility with Banque Saudi Fransi

08/11/2021 Argaam

Logo of Sumou Real Estate

Sumou Real Estate Co. renewed the Sharia-compliant credit facilities agreement with Banque Saudi Fransi (BSF), worth SAR 114 million, for one year.

 

The company said in a bourse filing that the value of the agreement is SAR 64 million that is renewable, in addition to SAR 50 million for new projects.

 

The aim is to finance the development of real estate projects.

 

The financing period is one year and is guaranteed by a mortgage and promissory note.

 

There are no related parties to the agreement, the statement added.

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