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Al Masha'ar REIT, Riyadh Bank seal funding agreement
(MENAFN) Muscat Capital Company announced an agreement to have been sealed between Al Masha'ar REIT and Riyadh Bank at a value of USD133,296,010.00.
Under the agreement, sharia-compliant funding will be conducted over a five-year period for new purchase pacts that Al Masha'ar R secures.
According to the statement, the loan is set for repayment quarterly and is to be handed over through a promissory note and a mortgage of income-yielding properties.
It further added that this contract is likely to bring up optimistic and solid effects on the outcome of the fund.
Under the agreement, sharia-compliant funding will be conducted over a five-year period for new purchase pacts that Al Masha'ar R secures.
According to the statement, the loan is set for repayment quarterly and is to be handed over through a promissory note and a mortgage of income-yielding properties.
It further added that this contract is likely to bring up optimistic and solid effects on the outcome of the fund.
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