NEOM said on Sunday that it has received a revolving credit facility (RCF) worth SR10 billion. This new money is intended to increase NEOM's liquidity for existing development projects, enabling the smooth evolution of infrastructure and other significant efforts in the region.
The RCF, organized under a Murabaha agreement, is consistent with NEOM's strategic financial planning, which seeks to diversify funding sources amid rapid expansion.
This move is part of NEOM's ongoing endeavor to support the substantial development efforts described in the Saudi Vision 2030 plan.
This facility comes after previous significant financial transactions, including an SR23 billion agreement to support the NEOM Green Hydrogen Company and an SR3 billion debt financing for the development of Sindalah, NEOM's luxury island resort set to launch this year.
Several important Saudi banks participated in the funding, indicating high market confidence in NEOM's capabilities and strategic direction.
Saudi National Bank, Riyad Bank, and Saudi Awwal Bank served as principal arrangers for this transaction, with additional participation from other significant Saudi financial institutions, demonstrating widespread support from the Kingdom's financial industry.
