Mubasher: Kuwait-based Aqar Real Estate Investments on Tuesday announced signing the contract of a KWD 2.45 million ($8.09 million) facility with a domestic bank.
Aqar Real Estate stated that the loan will be allocated for financing its operating business, according to a statement to Boursa Kuwait.
The Kuwaiti real estate developer last reported a 31.1% year-on-year profit decline during the full-year 2018, registering KWD 1.21 million, from KWD 1.76 million.
The firm’s general assembly had nodded to the board’s recommendation to distribute KWD 1.06 million in cash dividends at 5 fils per share, representing 5% of the share’s nominal value, for the full fiscal year 2018.
