Derayah clarified in a statement on Tadawul that this comes as part of the company's efforts to repay the fund's existing facilities, amounting to SAR 603 million, while benefiting from the improved terms in the new agreement.
Derayah confirmed that these facilities are compatible
with the provisions of Islamic Sharia, and represent a fundamental development
that will reflect positively on the fund’s financial performance, especially in
light of the low profitability ratio compared to the previous financing.
It is expected that the new financing will provide the fund with greater flexibility by taking advantage of the unused portion of the facilities to expand through the acquisition of new real estate assets, which supports the growth opportunities for the fund.