Riyadh – Mubasher: Al Rajhi Capital, fund manager of Al Rajhi REIT, said the fund had signed a SAR 254.5 million Sharia-compliant facility agreement with Al Rajhi Bank.

The five-year loan will refinance the existing loan tranche that is maturing on 20 December 2020, according to a bourse filing on Monday.

During the tenure of the loan, profit will be paid on a semi-annual basis with a bullet principal repayment at the end of the contractual period of five years.