Saudi Real Estate Company announced the latest developments on the rescheduling of the loan provided by the Public Investment Fund.

The company explained that it received a letter from the Public Investment Fund stating the conclusion of a transfer agreement between the Fund and the Ministry of Finance for the purpose of transferring the remaining balance of the Fund's loan amounting to about 1.31 billion riyals, and the related rights and obligations to the Ministry, and requesting approval for the effectiveness of the transfer.

The company said in a statement on Wednesday on “Tadawul”, that any future developments will be announced.

According to data available in “Arqaam”, the Saudi Real Estate Company had announced in July 2020 the rescheduling of the loan provided by the Public Investment Fund, where the value of the financing was adjusted from 1.5 billion riyals to 1.308 billion riyals.