Riyadh – Mubasher: Al Masha'ar REIT signed a sharia-compliant financing deal with Riyadh Bank worth SAR 500 million, Muscat Capital Company said in a recent statement.
The five-year facility will be re-paid quarterly and secured by a promissory note and a mortgage of income-yielding properties.
The loan will be used to finance new acquisition deals of Al Masha'ar REIT, a sharia-compliant real estate investment traded fund.
Muscat Capital noted that the deal is expected to have a positive impact on the fund’s results.
