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Derayah Financial Company Announces a Material Development to Derayah REIT Fund
| Element List | Explanation |
|---|---|
| Introduction | Derayah Financial Company ("The Fund Manager"), in its capacity as the manager of the Derayah REIT Fund ("The Fund"), announces a material development related to the Fund’s existing financing. |
| Description of the Event | The Fund Manager confirms the completion of arrangements to obtain Shariah-compliant banking facilities for the Fund. In this regard, the Fund Manager has signed a financing facility agreement with Alinma Bank for a total amount of SAR 750 million, with a tenure of five years. The primary objective of this facility is to refinance the Fund’s existing obligations, which currently amount to SAR 603 million. This step was taken in light of the advantages offered under the new arrangement, most notably a lower profit rate compared to the previous financing. |
| The Impact Caused by the Event | This development is expected to have a positive impact on the Fund’s financial performance and results, due to the reduction in the fixed portion of the profit margin and the extension of the financing term. Moreover, the unutilized portion of the facility may be used to acquire new real estate assets, thereby supporting the Fund’s growth prospects and enhancing its future distribution potential. The financial impact of this change is expected to begin materializing in the year 2026. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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