NEOM, a new urban area being built by Saudi Arabia, announced on Sunday that it has secured a new revolving credit facility (RCF) worth SAR10 billion ($2.67 billion).
This new funding is set to bolster NEOM's liquidity for its ongoing development projects, ensuring the steady progression of infrastructure and other major initiatives within the region.
Saudi Arabia’s NEOM announced on Sunday that it has secured a new revolving credit facility (RCF) worth SAR10 billion. It represents another milestone for NEOM as it progresses with the development of major projects and will be used to support NEOM’s short-term financing requirements. The RCF, which follows a Murabaha structure, reflects a continuation of NEOM’s strategy to diversify its sources of funding.