24 September
24/09/2024
Derayah Financial Announces the Occurrence of Specific Event to Derayah REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Derayah Financial (the “Fund Manager”) in its capacity as the Fund Manager of Derayah REIT (the “Fund”) announces a partial repayment of the fund loan. |
| Description of the Event | Derayah Financial, in its capacity as the Fund Manager of Derayah REIT, announces a partial repayment of the fund loan amounting to 5,100,000 Saudi Riyals from the fund’s existing financing with Al Rajhi Bank, using proceeds from the sale of the property announced on 03/09/2024. Additionally, the financing profits have been settled and the financing cost has been recalculated following the decrease in the SAIBOR rate. |
| The Impact Caused by the Event | It is expected that the impact will be positive by reducing the financing fees on the fund, which will be reflected in the fund’s results during the second half of 2024. |