The loan will used to finance the Jeddah airport project
Saudi Binladin Group has signed a SR8.5bn ($2.3bn) loan deal with a group of mainly local and regional banks to finance the SR27.1bn project to expand and redevelop Jeddah airport.
The deal was increased in size from SR6bn and was arranged by Bahrain’s Gulf International Bank.
The banks funding the deal included the UAE’s Abu Dhabi Commercial Bank, Emirates NBD, Union National Bank, Bahrain’s Ahli United Bank, Arab Banking Corporation, Bank of Bahrain and Kuwait, Jordan’s Arab Bank, France’s BNP Paribas, Malaysia’s Maybank, and the local Samba and Arab National Bank.
The deal is one of the largest loan deals completed in Saudi Arabia in 2011. The deal is structured as a contractor finance facility to fund Saudi Binladin’s development work on the Jeddah airport development.
You might also like...
Middle East contract awards: February 2026
26 March 2026
Local contractor wins Medina substation contract
26 March 2026
Neom terminates $5bn Trojena dams contract with WeBuild
26 March 2026
Egypt discovers more gas in its Western Desert region
26 March 2026
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.
Take advantage of our introductory offers below for new subscribers and purchase your access today! If you are an existing client, please reach out to your account manager.
