Riyadh – Mubasher: Saudi Arabia-based Jadwa Investment said that Jadwa REIT Al Haramain Fund has obtained a SAR 200 million loan from Riyad Bank.

The Shariah-compliant facility will mature after three years, according to a statement to the Saudi Stock Exchange (Tadawul) on Wednesday.

The fund will pump the credit into financing its expansion plans by acquiring income-generating properties in Makkah and Madinah.

The loan was obtained through promissory note and mortgage on properties, the statement added.

The facility will be withdrawn over two years, whereas it will be repaid on one installment at the end of its period.

By 12:19 pm Saudi time, the fund’s stock rose 0.23% to SAR 8.78.