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Binladen seeks $500m Ijara
- Saudi Arabia: Monday, December 10 - 2007 at 08:41
The Saudi Binladen Group is in the process of setting up a five year Ijara lease agreement worth $500m to help pay for the construction of its $6bn Abraj Al Bayt project in Mecca, near to the Grand Mosque, reported Reuters. Lenders including the Arab Banking Corporation, the Samba Financial Group and the Arab National Bank are arranging the Islamic loan. Abraj Al Bayt is scheduled to be completed by 2009.
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Jonathan Sheikh-Miller, Deputy EditorMonday, December 10 - 2007 at 08:41 UAE local time (GMT+4)
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