Derayah REIT secures SAR 750 mln Shariah-compliant facility from Alinma Bank

Derayah Financial, the manager of Derayah REIT, said the fund has secured a SAR 750 million Shariah-compliant facility from Alinma Bank, in a move aimed at refinancing existing debt and supporting future growth.

In a statement on Tadawul, the company said the five-year facility will be used to repay the fund’s current liabilities, totaling SAR 603 million. The refinancing comes with more favorable terms, including a lower fixed profit margin compared to the previous facility.

Derayah Financial expects the new facility to have a positive impact on the fund’s financial performance by lowering financing costs and extending the repayment period. The remaining unused facility will also provide flexibility for potential acquisitions of new real estate assets, supporting the fund’s expansion and future distribution capabilities.