Al Akaria: Remaining balance of PIF loan to be Transferred to Finance Ministry

Saudi Real Estate Company (Al Akaria) announced it has received a letter from the Public Investment Fund (PIF) includes a transfer agreement between the PIF and the Ministry of Finance in the Kingdom to transfer the remaining balance of the Fund’s loan amounting (1,306,984,340) with its related rights and obligations to the Ministry of Finance and requesting an approval on finalizing the transfer.

Any future updates will be announced in this regard.

This comes in reference to the company’s announcement on 30 April 2014 regarding the long-term loan obtained from the Public Investment Fund (PIF) and reference to the company’s announcement on 01 July 2020 regarding the rescheduling of PIF’s loan.