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- Omani bourse extends rally as financial sector leads
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25/01/2018 10:26 AST
Riyad REIT announces its intention to establish a sukuk program with a targeted size of one billion Saudi Riyal through a serires of tranches.
Riyad REIT is the first REIT to issue Sukuk program in Saudi Arabia. The program aims to diversify sources of finances and their maturity profiles and to support the expansion of Riyad REIT portfolio by acquiring income producing assets beside the assets announced earlier which will be financed through the capital increase.
The program will be established and launched after completion of all regulatory procedures, as required by the Fund and according the market conditions.
The Funds Board of directors has approved to establish the program on 24/01/2018.
The Fund will announce any other significant development in this regard in due course.
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Saudi Arabia's banking sector is experiencing a surge in activity in debt and sukuk markets as leading financial institutions move to strengthen their capital bases and fund strategic growth initiati
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