Derayah Financial Announces the occurrence of an event to Derayah REIT (The Mortgage of a Commercial Real Estate Asset in Riyadh)
Derayah Financial, the fund manager of Derayah REIT, announces the mortgage of a commercial real estate asset in Riyadh city that called Smart Tower to Al Rajhi Bank “Bank” on Thursday 11/05/1440H corresponding to 17/01/2019G as a guarantee of provided shariah-compliant facility by the bank to the fund.
There’s no financial impact of the mortgage because the fund did use any part of the available facility so far.
Derayah Financial confirms that there are no related parties in the mortgage except what was mentioned above. Derayah Financial will announce any material development as and when they occur.