Innovations in Islamic Finance 2015: Al Rajhi Capital Sale-leaseback

Lulu Hypermarket

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This small but interesting deal shows a useful approach to an important matter: Shariah-compliant methods for exiting large-scale commercial real estate developments in Saudi Arabia.

The Lulu Hypermarket is a shopping centre with 22,000 square metres of retail space in east Riyadh, built by the Almutlaq Group. It’s one of more than a hundred retail stores the...