Kuwait – Mubasher: Kuwait Finance House – Bahrain (KFH-Bahrain) on Wednesday said it was cooperating with several local Bahraini banks to finance the Deerat Al Oyoun project located in the southern part of Diyar Al Muharraq.

The total value of the project is estimated at $700 million, the bank said in a filing to the Kuwait Stock Exchange (KSE), adding that the project will be finance through joint facilities amounting to BHD 138 million ($365.92 million).

KFH-Bahrain’s share of the facilities amounts to BHD 79 million ($209.48 million), the lender added.

The project covers an area of 1.2 million sqm, and includes 3,100 residential units, slated for delivery in Q4-17.

KFH’s stock ended Wednesday’s trades in the red, falling 1.09% to 455 fils per share, after 435,700 shares were traded at a turnover of KWD 198,400.