Mubasher: Al Assima Real Estate Co, a 99.74%-owned subsidiary of Salhia Real Estate, has signed a credit facilities agreement with a local Islamic bank at a total value of KWD 10 million.

The financing facilities will be used to fund a project by the subsidiary, and will be repaid over seven years, according to a bourse statement issued on Sunday.

The project is forecast to be completed by 2020; these facilities will be realised as Islamic financing costs.

At the stock level, Salhia closed Sunday’s session 0.27% higher at 367 fils.