Salhia Real Estate (SRE) said it aims to settle financial obligations and meet capital requirements through the shariah-compliant credit facilities it obtained recently.

The Kuwaiti listed firm signed Islamic loan agreement with local bank to get KWD 10 million loan, which will be paid back over five years.

Salhia reported net profits of KWD 2.87 million for the first quarter of 2015, up 12.1% from KWD 2.56 million for the same period of the previous year.  

The firm is capitalised at KWD 51.3 million, distributed across 513 million shares at KWD 100 fils par value each.