Saudi: Enma Alrawabi secures $45.33mln loan from ANB

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The five-year facility deal is secured by a promissory note for the full value of the financing as well as a mortgage on the Hittin land in Riyadh

Staff Writer, Mubasher

February 27, 2024

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Riyadh – Enma Alrawabi Company obtained Sharia-compliant banking facilities from Arab National Bank (ANB) at an amount of SAR 170 million on 25 February 2024.

The loan will be used for purchasing the buildings erected on the Hittin land in Riyadh, which is related to the termination of the lease contract between Enma Alrawabi and Al Motaqadimah Schools Company.

The five-year facility deal is secured by a promissory note for the full value of the financing as well as a mortgage on the Hittin land in Riyadh.

In January, the Tadawul-listed firm bought an educational complex worth SAR 180 million.

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