Riyadh – Mubasher: Saudi Economic and Development Company Limited (SEDCO) announced that SEDCO Capital REIT Fund had signed a sharia-compliant financing contract at a value of SAR 600 million.
The funding period lasts for five years, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.
The fund will inject the fresh facilities into strengthening the revenues of the units’ owners.
“Funding is withdrawn within 18 months of the date of the agreement, the full amount of the funding withdrawn is paid at the end of the funding period, [and] during the period of funding the cost of funding is reimbursed only,” the statement added.
