Arriyadh Development Co. — Capital/Financing Update 2021

Nov 17, 2021

Arriyadh Development Co. Announces an update on Tanal Real Estate Investment and Development Company (an associate company) has completed the requirements for obtaining credit facilities

4150 · 17/11/2021 08:30:40 · Announcement #65672 · View on Saudi Exchange

Arriyadh Development Co. Announces an update on Tanal Real Estate Investment and Development Company (an associate company) has completed the requirements for obtaining credit facilities

Element List

Explanation

Introduction

Reference to the company’s announcement published on 25/06/ 2019 and It includes the obtaining of the Tanal Investment and Real Estate Development Company (Associate company) to obtain credit facilities from a bank Saudi Arabia, with a value of 800 million riyals for a period of three years To pay the obligations of the first Riyadh Al-Taamar Real Estate Fund as well as completing the remaining infrastructure works for the land of Al-Thumama and the establishment of the Riyadh Construction Company with a guarantee Tanal Company for Real Estate Development and Investment in the loan at a rate of Its share in the land only amounting to (69.38) percent from the capital, due to By signing a promissory note and a fine and performance bond, Arriyadh Development Company would like to announce to the shareholders that it has received a letter From Tanal Company for Investment and Real Estate Development referring to pay off the entire loan in early repayment.

there is no obligation on the part of the Arriyadh Development Company related to this matter Previous Announcement Tanal Real Estate Investment and Development Company (an associate company) has completed the requirements for obtaining credit facilities Date of Previous Announcement on Tadawul's Website 2019-06-25 Corresponding to 1440-10-22 Percentage of fulfilled achievement do not apply Event's Expected Completion Date do not apply The costs associated with the event, and if they have changed or not with indication of the reasons. do not apply

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