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Thank you for reading about Al Ahli Ret 1's signing of a bank loan of SR 650 million
Al Ahli Retreat Fund (I) has announced the signing of a shariah-compliant bank leasing agreement with the National Commercial Bank worth RS 650 million.
The Fund said in a statement on Wednesday that the financing period was 15 years, with the guarantee of an order in addition to the emptying of the property. Ijarah funding will not be reimbursed in the first five years.
The Fund noted that obtaining credit facilities was intended to acquire income-producing properties, which contributed to the diversification of assets and would have a positive impact on cash distributions.
The fund achieved net income of SAR 37.1 million for the six months ended June 30, 2018.
Net assets for the period ended June 30 reached SR1.412 billion.
In August, the Fund announced a 30% cash dividend for the period ending June 30, 2018, amounting to SAR $ 44,687 million, with SAR 0.325 per unit and an initial unit price of 3.25%.
Al-Ahli Retina Fund (1) is a Sharia-compliant closed-end real estate investment fund. The Saudi market is listed on the stock market on January 8, 2018.
We thank you for reading the news on "Al Ahly Ret 1" by signing a lease of 650 million riyals on the Gulf 365 and inform you that the content of the subject has been written by Forex news today and that it may have been fully transferred or quoted. You can read and follow the news of this source from the main source of the following link Forex News Today, we are not responsible for the content of this news with best wishes for Happy Day.
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