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.

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