Riyadh – Mubasher: Dur Hospitality has signed an Islamic credit facilities agreement (Tawarruq) with Banque Saudi Fransi (BSF) at a value of SAR 48 million ($12.88 million).
The purpose of the facility is to cover a part of the costs of an under construction hotel in Jubail Industrial City, according to a bourse filing.
The duration of the agreement extends from 13 June 2017 to 30 June 2018.
The facility is secured by a promissory note from the company.
