Riyadh – Mubasher: Tanal Investment and Real Estate Development Company, a subsidiary of Arriyadh Development Company, has paid off a SAR 800 million loan granted from a bank in Saudi Arabia in an early repayment.
Arriyadh Development Company has no obligations related to this loan, according to a bourse filing on Wednesday.
In June 2019, the company secured the three-year credit facilities to pay the obligations of the first Riyadh Al-Taamar Real Estate Fund, complete the remaining infrastructure works for the land of Al-Thumama, and establish the Riyadh Construction Company.
It is noteworthy to mention that during the third quarter (Q3) of 2021, the company achieved net profits after Zakat and tax worth SAR 70.8 million, up 28.4% from SAR 55.1 million in Q3-20.
