Riyadh - Mubasher: Knowledge Economic City Company has secured a Shariah-compliant financing valued at SAR 305 million from Riyad Bank.
The loan aims to fund the completion of the Al-Alya Project’s remaining residential component, according to a bourse disclosure.
It will be used for the execution of Aliya Residential Apartments in Cluster D.
The four-year agreement, signed on 25 August 2025, is secured by land mortgages and promissory notes.
In the first half (H1) of 2025, the net losses of Knowledge Economic City deepened by 41.99% to SAR 54.94 million from SAR 38.69 million in H1-24.
As of 30 June 2025, Riyad Bank logged 15.24% year-on-year (YoY) higher net profits at SAR 5.08 billion, compared to SAR 4.41 billion.
