Musharaka REIT renews bank facilities, cuts fixed finance costs by 24%

01/08/2022 Argaam
Logo ofMusharaka REIT Fund

Logo of Musharaka REIT Fund

Musharaka REIT Fund announced the renewal of its bank facilities and a 24% reduction in fixed financing costs, fund manager Musharaka Capital Co. said in a bourse filing.  

 

Additionally, the fund cut coverage margins, as well as the fees of the financing studies for the interest of unitholders. 

 

This move comes within the fund manager’s continuous efforts to improve the fund’s performance to leverage the available opportunities in the real estate market.

 

The cut in financing costs will positively impact the fund starting Q3 2022, the statement noted.

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