Al-Tijaria Real Estate Co. announced that it has paid back credit facilities at amount of KWD8.9 million (BHD11.6 million) to Bahraini bank.

The settlement will reduce the company's cost of debt by around KWD88.9 thousands on annual base, said Al-Tijaria in a bourse filling.

Earlier, Abdulfattah Marafie, chairman and managing director at Al Tijaria, said the company is planning a $10 million investment in farmlands in Turkey.

The investment period will be eight years from the date of starting the project with the possibility of extending for two more years.