Big financing for Saudi Energy + Fresh funds for Ardara’s Al Wadi project

Saudi Energy secured a seven-year shariah-compliant Murabaha facility worth SAR 15.8 bn from a syndicate of seven Saudi banks, according to a Tadawul disclosure. The financing was arranged by Saudi National Bank, Al Rajhi Bank, Saudi Awwal Bank, Banque Saudi Fransi, Arab National Bank, Riyad Bank, and the Saudi Investment Bank.

REMEMBER- Saudi Energy has a sizable pipeline of projects and investments in need of liquidity. In April 2026, it secured three projects across the Kingdom worth a combined SAR 750 mn and also acquired a minority stake in UK software company Kraken, which was valued at USD 8.7 bn at the time.

Ardara’s Al Wadi project gets its second project

PIF-owned developer Ardara launched its second investment in Abha’s Al Wadi project, with more than SAR 4 bn set to be deployed through a partnership with Sumou Holding, the company said on X. The investment will be structured through a real estate investment fund to finance the project's development, Al Riyadh reports.

IN CONTEXT- Al Wadi is Ardara’s first master-planned community in Abha. Unveiled at the Aseer Investment Forum last year, the 2.5 mn sqm project is being developed in phases, with Sumou Holding already signed to deliver a mixed-use district.