Saudi Real Estate Company (Al Akaria) has renewed a credit facilities deal with Albilad Bank for financing worth up to SAR 600 million ($160 million). 

The Shariah-compliant financing, obtained through the real estate firm’s subsidiary, Binyah, will be used to support operational activities of the company. The fresh capital will also help finance future projects.

The deal was secured by a promissory note, subject to the bank’s terms and conditions.

Al Akaria posted a net profit of SAR 296 million for 2025, marking a 37.6% increase over the previous year.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com