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Kuwait’s Real Estate House (REH), a subsidiary of Beyout Holding, has secured a loan with Kuwait International Bank for 2.24 million dinars ($7.24 million).
The funds will be used to in invest in one of the company’s projects, with the cost of financing above 1.6%, Beyout stated in a bourse filing.
A mortgage of the company’s assets has been submitted as a guarantee, the filing stated.
Beyout’s real estate operations involve managing both residential and commercial properties through its subsidiaries.
(Writing by Bindu Rai, editing by Seban Scaria)
