SAUDI HOTEL COMPANY TAKES OUT A MURABAHA LOAN TO DEVELOP A HOTEL IN RIYADH

27/08/2013 Argaam

The Saudi Hotel Company announced today signing a Murabaha finance contract with Riyad Bank as follows:

  1. The contract was signed on the 26/08/2013.
  2. The financing amount is SAR 308,800,000.
  3. The proceeds will be used to develop a new hotel in the diplomatic district in Riyadh.

The financing term is 10 years including 3 years grace period, according to a statement on Tadawul.

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