Tam Development secures SAR 25m financing from SAB
- Date: 01-Oct-2023
- Source: Mubasher
- Sector:Real Estate
- Country:Saudi Arabia
Tam Development secures SAR 25m financing from SAB
Riyadh – Mubasher: Tam Development Company signed a SAR 25 million Sharia-compliant financing facility agreement with Saudi Awwal Bank (SAB) on 20 September 2023.
The funding term is 12 months and the agreement is guaranteed by a promissory note worth the total amount of the facility, according to bourse disclosures.
The company stated that the purpose of the financing is to obtain a short-term credit line if needed in addition to bank guarantee facilities.
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