Bank Al-Jazira Provides Financing for Riyadh Property Project

Bank Al-Jazira (BJAZ), a Saudi Arabian lender, will provide Shariah-compliant financing to Mizat Development Co. for a 250 million-riyal ($67 million) property project in Riyadh, the companies said in a joint e-mailed statement today.

It didn’t provide the size of the financing for the planned 98 residential units in west Riyadh.

To contact the reporter on this story: Glen Carey in Riyadh at gcarey8@bloomberg.net

To contact the editor responsible for this story: Andrew J. Barden at barden@bloomberg.net

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