IssuerAnnouncementDetailsV2Portlet
Actions
Makkah Construction and Development Co. Announces Obtaining a Sharia-compliant financing from Aljazira Bank
| Element List | Explanation |
|---|---|
| Introduction | Reference to the Company’s announcement published on Tadawul on 31 December 2025 regarding the purchase of a land plot located on Ajyad Street in Makkah, with a total value of approximately SAR 980 million (inclusive of commission fees and real estate tax), Makkah Construction and Development Co. announces obtaining Sharia-compliant financing (bridge financing) from AlJazira Bank with a total value of SAR 880 million. These facilities will be utilized to finance part of the purchase value, with the remaining balance funded by the Company’s internal resources. |
| Date of obtaining the funding | 2026-01-29 Corresponding to 1447-08-10 |
| Financing entity | AlJazira bank |
| Financing amount. | SAR 880 million |
| Financing duration. | 6 months |
| Guarantees offered for the financing | Saudi Government Sukuk owned by the Company |
| Financing objective | Utilizing a mix of external financing and internal resources to fund the Ajyad Street land purchase. |
| Related Parties | 1. Mr. Mohammed Abdulkrem Alnafea is a Board Member and CEO of the Company. 2. Mr. Turki Ibrahim Alqonaibet is a Board Member of the company. |
| Additional Information | The purchase of the land plot is intended for the development of a mixed-use asset in a prime location adjacent to the Grand Mosque on Ajyad Street. This strategic move strengthens the Company’s real estate portfolio and aligns with its strategy to drive growth and enhance long-term value creation. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 78.7
Net Change -0.6 (-0.76%)
Value Traded (Sar) 11,151,742.1
Volume Traded 141,555
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions