The Saudi British Bank (SABB) has signed a project financing agreement with Nesma & Partners Contracting Company Ltd. worth $693 million (2.6 billion riyals) for the construction of a mall in the Saudi capital Riyadh, Zawya reports.
The deal will span three years and will be used to build Avenues-Riyadh mall, owned by Shumoul Holding. The project will cost 6.4 billion riyals, SABB said in a statement on Wednesday.
The mall will feature hotel towers and a commercial complex with more than 1,300 businesses and stores.
Saudi British Bank lends $693 million to Riyadh mall builder
