MAZAYA
MAZAYA
0.53%
75.90
0.40
MAZAYA
Al-Mazaya Holding signed a five-year securitization agreement with an Islamic Shariah-based bank for KWD 6 million ($19.8 million).
Mazaya will use the loan in buying a land property in east Kuwait, through its subsidiary Al-Mazaya Real Estate Development.
Total cost of the land property is worth KWD 8 million; Mazaya’s subsidiary has paid the remaining KWD 2 million.
The agreement will result in an increase of KWD 6 million in Mazaya’s assets and liabilities.
Source:
Mubasher