Riyadh - Mubasher: Umm Al Qura for Development and Construction has extended its Sharia-compliant bank facilities with Alinma Bank on 28 September.
The total combined financing limit stands at SAR 4.50 billion, including a currently utilized balance of SAR 2.60 billion, according to bourse filing.
The extended facilities include a long-term Ijara agreement capped at SAR 4.10 billion and a Murabaha agreement with a SAR 400 million limit.
Umm Al Qura took this step to optimize its capital structure and secure additional funding sources at competitive prices.
Guarantees for the facilities include real estate mortgages and promissory notes at the facility limits.
The financing, previously due on 3 July 2026, is now rescheduled to mature on 3 July 2029.
In the first half (H1) of 2025, the net profits of Umm Al Qura leapt by 106.25% to SAR 396.34 million from SAR 192.16 million in H1-24.
During the six-month period that ended on 30 June 2025, Alinma Bank recorded net profits worth SAR 3.08 billion.
