Riyadh — Mubasher: Emaar The Economic City has received the Public Investment Fund’s (PIF) approval to extend the availability period of a SAR 1 billion shareholder loan upon the ratification granted on 4 October, according to a bourse filing.
The sovereign wealth fund is a major shareholder in Emaar Economic City, while the extension moves the final date for the company to utilize the loan facility from 18 September 2026 to 28 February 2027.
This facility was established following a non-binding term sheet signed on 7 September 2024 and a subsequent binding amendment and restatement agreement executed on 19 March 2025.
Emaar Economic City elaborated that the original availability period was set to expire 18 months after the signing of the amendment agreement.
This latest development ensures continued access to the capital as the company manages its financial requirements.
Emaar Economic City noted that the PIF is a related party due to its significant ownership stake in the developer.
The listed company did not report changes to the costs associated with the loan.
