Saudi Awwal Bank (SAB) has signed a $1.7 billion (SAR 6.4 billion) financing agreement with AlBawani, a major national company backed by the Public Investment Fund (PIF), to support strategic projects across construction, technology, utilities, and infrastructure in Saudi Arabia.
The agreement reflects SAB’s continued role in enabling strategic infrastructure and development initiatives across the Kingdom, while further strengthening the bank’s diversified corporate portfolio.
The partnership underscores the shared commitment of SAB and AlBawani to advancing Saudi Arabia’s Vision 2030 ambitions through future-forward infrastructure and development projects that contribute to economic diversification and long-term sustainable growth across the Kingdom. It also underscores SAB’s commitment to providing tailored financing solutions that help drive private sector growth, economic diversification, and long-term sustainable development.
This agreement reflects AlBawani’s distinguished journey spanning more than 35 years of excellence and industry leadership, embodying its pivotal role as a fully integrated national entity with operations across construction, technology, energy, investment, water, utilities management, and infrastructure.
The partnership reaffirms the Group’s steadfast commitment to supporting Saudi Arabia’s development and transformation agenda, by combining deep local expertise with international standards further cementing its standing as a valued partner in delivering iconic projects that shape the nation’s future.
Commenting on the agreement, Yasser Al-Barrak, Chief Corporate and Institutional Banking Officer at SAB, said that, “This agreement reflects SAB’s continued commitment to financing strategic developments that contribute to Saudi Arabia’s long-term economic ambitions.”
“As infrastructure and development activity continue to accelerate across the Kingdom, we remain focused on enabling high-impact sectors through tailored banking solutions and strong client partnerships. AlBawani’s proven delivery capabilities and track record across major projects make the company a valued partner in supporting the next phase of national transformation,” Al-Barrak added.
