Emaar EC secures SAR 1.25bn Murabaha credit from Alinma bank

10/12/2014 Argaam

Emaar the Economic City signed SAR 1.25bn murabaha credit agreement with Alinma Bank on December 9, 2014.
 

The credit has a term of eight years from 09-12-2014 to 08-12-2022 and is secured by a land mortgage; the company said in a filing to Tadawul today.

The purpose of the loan is to develop the Haramain district in King Abdullah Economic City.

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