Alinma Retail REIT says real estate mortgage with Alinma Bank completed

17/01/2023 Argaam

Alinma Retail REIT says real estate mortgage with Alinma Bank completed

Logo of Alinma Investment Co.

The mortgage of income-generating real estate owned by Alinma Retail REIT Fund with Alinma Bank in exchange for securing credit facilities have been completed, fund manager, Alinma Investment Co., said in a statement to Tadawul today, Jan. 17.

 

Alinma Retail REIT Fund signed, in November 2022, a Shariah-compliant credit facility agreement with Alinma Bank at a total value of SAR 750 million.

 

Alinma Retail REIT will use these facilities to finance the acquisitions of new assets, which are expected to have a positive impact on the fund, Alinma Investment concluded.

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