Mubasher: Tijara and Real Estate Investment (Tijara) on Thursday announced that it has signed a KWD 10 million loan agreement with a local bank.

The loan will be used for purchasing new properties and financing the company’s activities, according to Tijara’s statement to Boursa Kuwait.

The credit facility will be positively reflected on the company’s profits and financial position, it said, but did not name the local bank which will provide the loan.

For the first half of 2018, Tijara’s net profits hiked 148% to KWD 551,950, compared to KWD 222,530 in H1-17.