Kuwait Real Estate Company (AQARAT) has signed a banking facilities agreement valued at 30 million Kuwaiti dinars ($97.81 million) to support its ongoing real estate and operational activities.

The company restructured and renewed existing credit facilities of KWD 15 million and new credit facilities of KWD 15 million, the developer said in a statement to Boursa Kuwait.

The facilities are granted at competitive interest rates and on flexible repayment terms.  

The bank's name was not disclosed.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)

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