SEDCO Capital REIT ups Bank AlJazira credit limit to SAR 1.87B

SEDCO Capital REIT Fund’s board of directors approved increasing the financing limit provided by AlJazira Bank from SAR 1.72 billion to SAR 1.87 billion, the fund manager, Saudi Economic and Development Securities Co. (SEDCO Capital), said in a statement to Tadawul.

The increased facility limit will allow for the acquisition of new real estate assets.

The fund manager expects the impact of this event will be generally positive on the fund's performance and results. According to data available on Argaam, SEDCO Capital REIT Fund signed, in October 2022, a Shariah-compliant facility agreement worth SAR 1.72 billion with its strategic partner, Bank AlJazira.