Mubasher: Kuwait Real Estate has signed an agreement with a local bank in the UAE to obtain an AED 45 million ($12.3 million) loan.
The loan aims at funding the purchase of a property in Dubai for a total value of KWD 5.46 million, according to a bourse statement on Thursday.
The financial impact expected is a leasing return of AED 4.31 million ($349,000), Kuwait Real Estate added.
At the stock level, Kuwait Real Estate closed Thursday’s session 1.25% lower at 44.9 fils.
