Tilal Towers live-

Sulaiman Alrajhi Holding Company launched the Tilal Towers endowment project with an investment of SAR 2 bn, Chairman Ihasn Bafakih told Aleqtisdiah. The project comprises over 2.5k hotel and residential keys across four international hotels near the Aisha Al Rajhi Mosque in Makkah over a 135k sqm area.

The project is expected to accommodate about 950k pilgrims annually, with an estimated revenue of around SAR 210 mn per year, CEO and Managing Director Moath Al Makhdob said.

Raya bags SAR 300 mn from sukuk offering

Raya Financing Company secured SAR 300 mn (USD 80 mn) through AT1 sukuk listed on Tadawul under its SAR 500 mn program, according to Zawya. The issuance is callable after five years, with a quarterly 8.5% coupon. Raya tapped Impact46 as the financial advisor and sole arranger for the offering.

SHL Finance renews SAR 200 mn facility with Emirates NBD

Riyadh-based SHL Finance renewed a SAR 200 mn shariah-compliant facility with Emirates NBD, it said in a disclosure to Tadawul. The five-year facility will contribute to boosting the company’s top line by backing new loans to customers.

AI startup Deep.SA sees funding commitment from Vision Ventures

Homegrown AI startup Deep.SA brought in VC player Vision Ventures to its pre-seed funding round, which raised SAR 4.5 mn in August, according to a statement. This investment will help the startup scale the development of Saudi AI infrastructure and models, fueling the growth of bespoke AI solutions for the public and private sectors.

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