Alinma Hospitality REIT says Ashad mortgages additional units in fund

21/02/2024 Argaam

Alinma Hospitality REIT says Ashad mortgages additional units in fund

Logo of Alinma Hospitality REIT Fund

Alinma Investment Co., manager of Alinma Hospitality REIT Fund, reached an agreement with Ashad Co. for mortgaging additional units owned in the fund, increasing the total mortgaged units to 12.9 million.

 

In a statement on Tadawul, the company stated the mortgage runs for five years from the fund's operation date, unless the fund manager opts to release the mortgage.

 

The agreement underscores both parties' commitment to safeguarding the fund and unit holders' interests, highlighting Ashad's dedication to its obligations towards the fund's asset, the Vittori Palace Hotel, the statement added.

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