Mubasher: Ajial Real Estate Entertainment has signed an agreement to restructure credit facilities with a Kuwaiti bank, in addition to raising the maximum level of loans to KWD 32.5 million.

The credit facilities will be used in financing Ajial’s business and developing its projects, according to a bourse statement on Wednesday.

The finance costs will be registered in the income statements based on the amount used from the credit facilities, the Kuwaiti firm noted. 

It is noteworthy that Ajial announced an increase of 45.9% in profits to KWD 2.48 million during the first half of 2018, compared to KWD 1.7 million in the same half of 2017.