Al Khaliji, Commercial Bank in QR1.26bn financing for Al Rayyan Road project JV

Al-Raisi (left) and al-Khalifa: Supporting Qatar’s economic expansion.

Al Khalij Commercial Bank (Al Khaliji) and Commercial Bank have “successfully concluded” a combined contract financing arrangement of QR1.26bn for a project awarded to a joint venture on the Al Rayyan Road project.

The contract financing facility was for the project awarded to a joint venture between Dogus Insaat ve Ticaret (Dogus Construction) and Onur Taahhut Tasımacılık ve Ticaret for the construction and development of the Al Rayyan Road project.

Al Khaliji and Commercial Bank are financing the QR3.43bn project on a “mutual basis” in which both banks are the joint mandate lead arrangers while Commercial Bank will be acting as the facility and security agent.