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Kuwait’s United Real Estate Company has signed a 25 million dinars ($81 million) non-cash loan agreement with a local bank to support a new real estate project.
The credit facility has tenors raging from two to 17 years.
The loan will finance a project for one of its subsidiaries, Marasi United for Property Development and Management, UREC said in a bourse filing.
(Writing by Bindu Rai, Editing by Seban Scaria)
