Riyadh – Mubasher: Alandalus Property Company has secured a short-term Islamic financing facility totaling SAR 35 million from the Saudi National Bank (SNB).
The Tawarruq-based credit facility was formally obtained on 16 September 2026. The financing agreement carries a duration of one year, effective from the date of signing.
According to the regulatory filing, Alandalus Property intends to utilize the funds to support its working capital requirements and provide liquidity for the company’s ongoing projects.
To secure the credit line, the company has provided a promissory note and the assignment of cash dividend distributions within the limits of the banking facility.
Alandalus Property confirmed there are no related parties involved in the transaction.
In the first half (H1) of 2026, the listed company turned profitable at SAR 12.31 million, compared to a net loss of SAR 10.97 million during the same period in 2025.
