Perfect Presentation for Commercial Services (2P) has renewed and increased its credit line with Banque Saudi Fransi to support projects and acquire a new property.

The new deal is for up to SAR 289.2 million ($77.1 million) in financing until January 6, 2027, the Saudi-listed firm said on Tuesday.

The fresh capital will be used for issuing letters of credit and guarantees for new projects, and finance a new building acquisition.

Last month, the company announced the acquisition of a commercial building in Riyadh for SAR 83 million.

(Writing by Cleofe Maceda; editing by Brinda Darasha)