Alinma Hospitality REIT secures SAR 1 bln facility from Alinma Bank

Logo of Alinma Hospitality REIT Fund 

Alinma Hospitality REIT Fund signed a Shariah-compliant facility agreement with Alinma Bank worth SAR 1 billion, fund manager Alinma Investment Co. said in a statement to Tadawul.

 

The funding is guaranteed by income-generating assets and a promissory note. 

 

The 10-year facility bears an interest rate of 1.2% + SAIBOR three months.  

The funds will be utilized to acquire new, income-generating assets, which will have a positive impact on the fund, the statement said. 

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