Kuwait – Mubasher: Salhia Real Estate and its 99.74%-owned subsidiary Al Assima Real Estate Co signed a credit facility agreement with a local Islamic bank.
The loan is worth KWD 15 million, according to a bourse statement issued on Thursday.
This credit facility deal aims to finance the working capital of Salhia, with repayment period of six and a half years at the most.
Meanwhile, Al Assima will use this loan to finance the capital expenses of establishing a project by the subsidiary, with repayment period of seven and a half years at the most, the statement added.
At the stock level, Salhia closed Thursday’s session 1.33% higher at 380 fils.
