Al Maather REIT mortgages two Riyadh properties to Al Rajhi Bank for securing loan

11/02/2021 Argaam

Logo of Al Maather REIT Fund

Osool and Bakheet Investment Co., fund manager of Al Maather REIT Fund, announced today, Feb. 11, 2021, the completion of the process of mortgaging title deeds of two properties in Riyadh - First Al Tkahssusi showroom Al-Rabie GENX property - to Al Rajhi Bank.

 

The transaction is a guarantee for the Shariah-compliant facilities to be secured from the bank.

 

There will be no relevant financial impact, as the fund the fund did not use any associated facility, the fund manager said.

 

The transaction included no related parties.

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