Almalga Village, a property of Alkhabeer REIT. (Image: Almalga Village)

Saudi Arabia’s Alkhabeer REIT has obtained an SAR420 million (USD112 million) facility agreement with Al-Rajhi Bank.

The Shari’ah-compliant facility agreement will have a tenor of five years.

SAR340 million from the facility will be used by Alkhabeer REIT to finance the acquisition of targeted assets, while the remaining SAR80 million will be reserved for future acquisitions.

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By Ridzwan Rahmat

Ridzwan has been analysing REITs and business trusts since 2008, and personally manages a portfolio comprising mainly of SGX-listed REITs. He founded REITsWeek in 2013.