First Avenue signs SAR 315M facility deal with Bank AlJazira

29/09/2025 Argaam- Nomu
Logo of First Avenue Real Estate Development Co.

Logo of First Avenue Real Estate Development Co.

First Avenue Real Estate Development Co. signed a SAR 315 million Shariah-compliant banking facility agreement with Bank AlJazira.

 

In a statement to Tadawul, the company said the financing was secured on Sept. 29, with a six-year tenor.

 

For more news on listed companies

 

As part of the agreement, the company issued promissory notes equal to the facility value, mortgaged the project land and assigned project proceeds to Bank AlJazira as collateral.
The financing will support the company’s expansion plans, including project execution, acquisitions, and developments.
Mohammed Al-Nafea is a related party, as he serves on the boards of both Bank AlJazira and First Avenue, the statement said.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.