TDF indications financing arrangement with ANB-led consortium
The Tourism Development Fund (TDF) signed a financing contract at an overall of SAR 4.35 billion with a consortium of banks led by Arab National Bank (ANB. The consortium consists of Saudi Awwal Bank (SAB Riyad BankKuwait’s NBK and Shomoul Holding Co.
TDF will utilize the loan to fund the very first stage of The Avenues– Khobar task, which makes up a shopping center and a mixed-use tower, the fund stated on the social networks platform X.
The Avenues– Khobar task lies in the northwest corner of the crossway of King Saud Road with Prince Sultan Road in the center of Khobar. It is among the prominent jobs in the Eastern Province, which will alter the idea of shopping and home entertainment, and reinforce tourist in the area.
On Dec. 20, Prince Saud bin Naif bin Abdulaziz, Governor of the Eastern Province, began of The Avenues – Khobar task, executed by Shomoul Holding. The job, which costs more than SAR 7.2 billion, is anticipated to be opened in H1 2027.