| Announcement Detail |
In view of what was announced on 31/05/2018, where Musharaka REIT Fund has obtained banking facilities provided by Al Rajhi Bank in line with the standards of the Sharia Board, Musharaka Capital Company as " Fund Manager" would like to announce to Unit Holders that the negotiation with Al-Rajhi bank has just been concluded to increase the facilities to 1,000,000,000 riyals (one billion Saudi riyals) instead of 400,000,000 riyals (four hundred million Saudi riyals). This comes as part of the Fund Manager continues efforts to improve the efficiency of the fund and its readiness to take advantage of attractive opportunities in the local, regional and international real estate market. In addition to the Fund benefit from the reduced current interest rates, it has also been agreed and concluded with Al Rajhi Bank to review the facility margin. The change will apply from the next rollover in June 2020. |
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