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FINANCIAL NEWS
Jeddah Economic City Project acquires USD 0.95bn
16 Mar 2016
(MENAFN) ALINMA Jeddah Economic City Fund has acquired Shariah-compliant financing of more than USD 0.95bn, which is expected to take five years.
Furthermore, the objective of the financing is to offer funding to build and improve the infrastructure for phase one of the project.
The Jeddah Economic project will continue the building of Jeddah Tower which has reached its 37th floor in addition to developing real estate projects.
Additionally, Capital Market Authority (CMA) confirmed Shariah-compliant real-estate investment fund with a value of USD 2.23bn.
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