The Clap
Musharaka Capital, the manager of the Musharaka REIT Fund (4335), announced the signing of a banking facility agreement with Bank AlJazira (1020) through the forward selling system, which complies with the criteria of the Shariah Board of the Fund.
The Deets
Musharaka Capital indicated that the value of the banking facilities amounted to SAR 1 billion for 7 years, the full value of which will be paid at the end of the seventh year.
So What
Musharaka REIT is a closed-ended real estate investment fund, which aims to facilitate investment in ready-to-use real estate that periodically generates income through leasing.
It consists of 13 real estate assets located mainly in Riyadh, the Eastern Province, and the UAE.
Now What
The fund aspires to increase the acquisition of income-generating real estate assets, benefiting the fund and the shareholders.
