Riyadh – Mubasher: Saudi Arabia-based Jadwa Investment has said that Jadwa REIT Saudi Fund secured a SAR 1 billion ($266.67 million) sharia-compliant loan from Banque Saudi Fransi (BSF).
The facility will be used to finance the fund’s new acquisitions of income-generating properties in line with the Fund's investment strategy, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The loan’s term extends for five years, with a three-year availability period.
The fund secured the loan through a promissory note and pledge on properties.
By 11:22 am Saudi time, the fund’s stock inched up 0.22% to SAR 8.97, whereas BSF' stock edged down 0.75% to SAR 32.95.
