Knowledge Economic City secures financing from Saudi Investment Bank worth 152 million riyals
Logo of Knowledge Economic City Company. Knowledge Economic City Company announced yesterday that it obtained Sharia-compliant financing worth 152 million riyals from Saudi Investment Bank. The company said in a statement today on Tadawul that the financing aims to complete construction works for the educational complex in Knowledge Economic City, which will be managed and operated by Riyadh Schools Group, a subsidiary of the Prince Mohammed bin Salman Foundation 'Misk'. The company explained that the financing period is 15 years and the guarantees provided include mortgage of land plots as well as promissory notes,…
Knowledge Economic City secures financing from Saudi Investment Bank worth 152 million riyals
Logo of Knowledge Economic City Company
Knowledge Economic City Company announced yesterday that it obtained Sharia-compliant financing worth 152 million riyals from Saudi Investment Bank.
The company said in a statement today on Tadawul that the financing aims to complete construction works for the educational complex in Knowledge Economic City, which will be managed and operated by Riyadh Schools Group, a subsidiary of the Prince Mohammed bin Salman Foundation 'Misk'.
The company explained that the financing period is 15 years and the guarantees provided include mortgage of land plots as well as promissory notes, noting that there are no related parties.
Original source: Argaam
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