Alinma Investment Company announced that Alinma REIT Retail Fund has signed a Sharia-compliant credit facility agreement with Alinma Bank worth SAR 750 million.
The company said in a statement on Tadawul that this is in return for a mortgage of income-generating real estate and a promissory note, noting that the financing period is 8 years and the profit margin will be 1.3 + SIBOR 3 months.
The credit facilities will be used to finance the acquisition of new assets of the fund, which is expected to have a positive impact.
