Derayah REIT repays SAR 5.1M of existing loan with Al Rajhi Bank

24/09/2024 Argaam
Logo ofDerayah REIT Fund

Logo of Derayah REIT Fund

Derayah Financial, fund manager of Derayah REIT Fund, announced the partial repayment of SAR 5.1 million from the fund's existing financing with Al Rajhi Bank, using proceeds from the sale of the property announced on Sept. 3, 2024.

 

Additionally, the financing gains have been settled and the financing costs (FCs) have been recalculated following the SAIBOR reduction, according to a statement to Tadawul today, Sept. 24.

 

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Derayah Financial expects the related impact to be positive given the lower FCs. This will be reflected in the fund's results in H2 2024.

 

According to data available to Argaam, Derayah Financial recently announced finalizing the sale of the Workers’ Residence in Dammam for SAR 5.1 million.

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