Mubasher: Kuwait Real Estate has signed credit facilities contracts at a total value of KWD 30 million ($99.2 million), according to a bourse statement on Thursday.
The first loan is valued at KWD 20 million and was signed with an Islamic bank, while the second contract is worth KWD 10 million and with inked with a local Kuwaiti bank.
The two contracts aim at financing the real estate expansion in the company.
Kuwait Real Estate noted that both of the contracts have a flexible repayment method.
At the stock level, Kuwait Real Estate closed Thursday’s session 0.2% lower at 50.9 fils.
