Albilad Makkah Hospitality Fund raises up to SAR 440 mln in offering

28/08/2017 Argaam

Albilad Makkah Hospitality Fund’s private placement was completed, after it raised up to SAR 440 million, Albilad Capital said in a statement.

 

The sharia-compliant fund’s capital was raised to SAR 1.14 billion. 

 

The fund has a five-year term extendable by one more year. It owns 55 residential units, rented by Jabal Omar Development Co. and operated by Hilton hospitality company, stated Albilad Capital’s CEO Alhassan Goussous.

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