Al Maather REIT provides property mortgage deed for Al Rajhi Bank

01/09/2019 Argaam

 

Al Maather REIT provided a property mortgage deed for Al Rajhi Bank, in a guarantee for the Shariah-compliant facilities secured from the bank, Osool & Bakheet Investment Co., the fund manager said.

 

There is no relevant financial impact, and the deal included no related parties.

 

Earlier last month, Al Maather REIT signed a Shariah-compliant facility agreement with Al Rajhi Bank worth SAR 400 million. The five-year term facility was aimed at financing the expansion plans of the fund through new acquisitions of income-generating properties. 

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