Mubasher: Salhia Real Estate said that its 99.74%-owned subsidiary, Al Assima Real Estate Co, has signed a credit facility agreement with a local bank for KWD 5 million ($16.4 million).

The company clarified that this loan contract can be renewed per annum, according to a bourse statement issued on Thursday.

This loan agreement will cover Al Assima’s project, which will be completed in 2020.